China halts youth unemployment data amid slowdown concerns

August 15, 2023

The government said it would temporarily suspend publishing youth joblessness data but gave no timeline for the suspension…reports Asian Lite News

China has stopped releasing youth unemployment figures, which were seen by some as a key indication of the country’s slowdown.

The decision is due to changes in the world’s second largest economy and its society, a government spokesman said.

In June, China’s jobless rate for 16 to 24 year olds in urban areas hit a record high of more than 20 per cent.

The country’s central bank also cut the cost of borrowing on Tuesday in an attempt to help boost growth.

Official figures published on Tuesday showed China’s overall unemployment rate had risen to 5.3 per cent in July.

At the same time the government said it would temporarily suspend publishing youth joblessness data but gave no timeline for the suspension, the BBC reported.

A spokesman for the National Bureau of Statistics said the method of calculating unemployment among young people needed to be reconsidered.

“The economy and society are constantly developing and changing. Statistical work needs continuous improvement”, Fu Linghui told a news conference in Beijing.

Fu hinted that the growth in the number of students between 16 and 24 years of age had affected unemployment figures, but China has never counted those in education as unemployed.

China started publishing youth unemployment figures in 2018. However, it does not currently release data on the employment status of young people in rural areas.

The announcement came as the country’s post-pandemic economic recovery is slowing, the BBC reported.

ALSO READ: Prachanda set for September visits to US, China

Previous Story

Creative ideas to celebrate and educate on August 15th

Next Story

World leaders extends wishes to India on I-Day

Latest from -Top News

UAE credit soars to the top

S&P Global, Moody’s Investors Service, and Fitch Ratings — have all assigned strong sovereign credit ratings to the UAE In a strong

Khamenei rebukes Trump

Khamenei said Iran had triumphed over the US and downplayed the impact of the strikes on the country’s nuclear infrastructure Iran’s Supreme

UAE powers up China ties

Dr Sultan Al Jaber’s China visit boosts UAE-China strategic ties, focusing on energy, renewables, and industrial cooperation amid record bilateral trade and

Khamenei threatens more strikes

Iran’s supreme leader rebukes Trump’s ‘surrender’ remark, warns of repeat attacks on US bases and Israeli targets. In his first public appearance

Don't Miss