Analysts continue to call for more aggressive stimulus measures to invigorate the job market, after employees saw salaries suffer their biggest quarterly decline in years across dozens of major Chinese cities.
Lack of detail on a crucial economic policy meeting, along with other messaging that indicates emphasis on political cohesion, suggests growth and recovery are still not top of mind for China’s leadership.
China’s jobless rate for 16 to 24 age group stood at 14.9 per cent in December 2023, the National Bureau of Statistics said on Wednesday, with the release of the data having been suspended in July.
A Post review of annual reports by Chinese universities offers insight into the current state of youth joblessness as official figures resume, and 2024 looks to be rife with challenges.
For the first time in decades, the share of China’s workforce employed in raw materials industries has gone up – a consequence of a weak job market and a return of rural migrants to their homes.