China's Youth Unemployment Rate Hits 11-Month Low of 15.6% in May

China's youth unemployment rate has fallen to its lowest level in 11 months.
According to China's National Bureau of Statistics on Monday (June 22), the unemployment rate for urban residents aged 16 to 24, excluding students, was recorded at 15.6% last month.
This is a 0.7 percentage point decrease from the previous month (16.3%) and marks the lowest level in 11 months since June of last year (14.5%).
During the same period, the unemployment rate for those aged 25 to 29 fell to 7.2%, down 0.2 percentage points from April (7.4%), while the rate for those aged 30 to 59 dropped to 4.1%, down 0.1 percentage points from April (4.2%).
The national urban unemployment rate, released on the 16th, also showed a slight improvement, recording 5.1% compared to 5.2% the previous month.
China had abruptly suspended the publication of youth unemployment statistics after the rate soared to a record high of 21.3% in June 2023. Since December of that year, the country has resumed reporting by excluding students and disclosing unemployment rates by specific age groups.
However, due to the impact of an increasing number of university graduates and an economic slowdown, the youth unemployment rate has not dropped significantly, fluctuating between the 16% and 17% range.
According to China's Ministry of Education, approximately 12.7 million people are expected to graduate from universities in China this year.
This figure is higher than last year's 12.22 million and represents an all-time high.
In response, relevant authorities recently announced an employment strategy that includes supporting startups linked to science, technology, industry, and vocational skills, as well as stabilizing jobs in labor-intensive sectors such as light industry, textiles, trade, and construction.
(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.