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China’s youth unemployment rate fell to 18% in September. Although there has been an improvement since August, it is still higher than the same period last year. The overall urban unemployment rate remained stable, and a large number of graduates entered the workplace, leaving youth employment pressure unresolved.
Data released by China’s National Bureau of Statistics on the 21st showed that the number of people aged 16 to 24 in cities and towns across the country in September increased, not including school students.labor force unemployment rate This was 18%, down 0.9 percentage points from August, but up 0.3 percentage points from 17.7% in the same period last year, showing that the youth job market is still under pressure.
In terms of other age groups, excluding school students, the unemployment rate for the labor force aged 25 to 29 was 7.4%, down 0.1 percentage points from August, but 0.2 percentage points higher than the same period last year; The unemployment rate for the labor force aged 30 to 59 remains at 3.9%.
Overall, China’s National Urban Survey unemployment rate was 5.2% in September, down 0.1 percentage point from August. In the first three quarters of this year, the national average urban survey unemployment rate was 5.2%, the same as the same period last year.
The analysis of the employment situation published by China’s National Bureau of Statistics on the 20th showed that as college graduates gradually found jobs, the youth unemployment rate declined in September.
China’s youth unemployment rate continued to rise in July and August this year, reaching 17.9% and 18.9% respectively. The National Bureau of Statistics previously reported that the rise in the unemployment rate is mainly influenced by the graduation season, when a large number of college graduates enter the labor market, leading to increased short-term employment pressure.
The number of college graduates in China is expected to reach 12.7 million this year, reaching a new high, which will continue to put pressure on the youth employment market. The Chinese Education Department has previously introduced measures to expand the supply of job opportunities and strengthen vocational skills training and employment services to promote the employment of college graduates.
From January 2024, China’s National Bureau of Statistics will publish the unemployment rates of the labor force aged 16 to 24, 25 to 29 and 30 to 59, excluding school students, on a monthly basis, saying this can more accurately reflect the employment situation of young people entering the labor market.
Summary FAQ
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Excluding school students, the unemployment rate for young people aged 16 to 24 was 18% in September, down 0.9 percentage points from August, indicating that employment pressure has eased slightly after the peak of graduation season, but is still at a high level.
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The unemployment rate for those aged 25 to 29 was 7.4%, down 0.1 percentage point from August; The unemployment rate for those aged 30 to 59 stood at 3.9%. Overall, the employment situation of non-youth people is relatively stable.
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The National Bureau of Statistics reported that the decline in the youth unemployment rate in September was mainly due to college graduates slowly finding jobs. However, the number of graduates this year is expected to reach 12.7 million, and the huge supply will keep pressure on the youth job market.
