China youth unemployment hits 18.8pc, highest this year

SHANGHAI: Youth unemployment in China climbed to 18.8 per cent in August, its highest level this year, as the country struggles to boost a flagging economy.

The unemployment rate among 16- to 24-year-olds not in education rose from 17.1 per cent in July, according to figures released by the National Bureau of Statistics (NBS) on Friday.

The closely watched metric peaked at 21.3 per cent in June of 2023, before authorities suspended publication of the figures and changed their methodology to exclude students.

Nearly 12 million students graduated from Chinese universities this June, heightening competition in an already-tough job market and likely explaining July´s sharp increase in joblessness.