Unemployment among Chinese youth rises, National Bureau of Statistics reports – Times of India

BEIJING: A recent report released by the National Bureau of Statistics found that China’s unemployment rate in urban areas rose in July, the highest job-seeking season for college graduates. According to YICAI, the country’s unemployment rate stood at 5.1 percent in July, up from 5 percent a month earlier.

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“In July, 16.2 percent of people aged 16 to 24 were unemployed,” said Yao Kai and Zhang Chengyang, academics at Fudan University and Capital University of Economics and Business. ”

The professors further suggested that “the recurrence of Kovid-1 of, floods in China and increased industrial control are the primary reasons for the increase in the unemployed population in the country.”

A record-high 9 million students are set to graduate from Chinese universities in 2021, and ensuring stable employment for newcomers to the job market could be a daunting task for Beijing.

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A few months before this development, China released data from its Seventh National Census, which shows that both the size of the country’s labor force and the proportion of the total population are steadily declining. However, experts point out that the employment pressures on young people are still huge.

The Ministry of Education said that although the employment environment is still complex and difficult, all departments will work together to ensure stable employment.

Experts in the field say that although China’s working-age population continues to decline, there will be no short-term labor crises and the employment pressures on young people will remain high.

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According to the Global Times, since September last year, the Chinese government has been working to ensure employment for graduates.

The report further states that state-owned enterprises are also easing the pressure, adding that large colleges and universities are working to reduce employment pressures by exploiting more graduates willing to study further.

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