The jobless rate was 14.9% last month for those between 16 and 24 years old, the statistics department said in a statement Wednesday. That figure excluded students, and compared to 21.3% in June before the body suspended releasing such data.
The People’s Bank of China is expected to lower the rate on its one-year policy loans called the medium-term lending facility by 10 basis points to 2.4%, according to the median estimate in a Bloomberg survey of 15 economists. That would be the first trim to the rate since a surprise 15-basis-point reduction last August.
(Bloomberg) China’s consumer prices marked their longest streak of declines since 2009, threatening a deflationary spiral that may require more government support to reverse. Its export growth engine is also faltering.Most Read from BloombergGoogle Lays Off Hundreds in Hardware, Assistant, EngineeringUK’s Sunak Authorizes Joint Military Strikes With US Against HouthisHertz to Sell 20,000 EVs in Shift Back to Gas-Powered CarsUS, UK Launch Airstrikes on Houthi Rebels After Red Sea AttacksSEC Au