Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Economy

China’s August youth jobless rate rises to nine-month high

admin by admin
September 20, 2024
in Economy
0
China’s August youth jobless rate rises to nine-month high
0
SHARES
8
VIEWS
Share on FacebookShare on Twitter

BEIJING (Reuters) – China’s August youth jobless rate climbed to the highest level since last December, the statistics bureau said on Friday, as new graduates started to hunt for offers on the job market, adding to the pressure on policymakers to take action.

The unemployment rate for 16-to-24-year-olds, excluding college students, rose to 18.8% last month, up from the 17.1% in July.

Other economic indicators have shown economic growth momentum slowed in August, putting the country at risk of missing its annual growth target of around 5%.

China resumed the publication of youth unemployment ratio last December after excluding college students from the survey pool. The highest level before the statistics method revision was 21.3% in June last year.

The unemployment rate for 25-to-29-year-olds, excluding college students, also rose to 6.9% in August from 6.5% a month prior, the statistics bureau said. The jobless ratio for 30-to-59-years-olds was unchanged, at 3.9%.

Rising unemployment in China pushed some college graduates into accepting low-paid work or even relying on their parents’ pensions, Reuters previously reported.

Some white-collar workers, especially in the finance industry, also face pay cuts, which analysts have said would lower already weak domestic consumption.

The nationwide survey-based jobless rate was up to 5.3% in August from 5.2% in July. The statistics bureau spokesperson Liu Aihua said last week that was due to the graduate season.

Official data showed China has 11.79 million college graduates this year, a record high.

This post appeared first on investing.com

Previous Post

Investment advisers urge clients away from cash after Fed rate cut

Next Post

Sanofi says tolebrutinib drug delayed progressive MS by 31%

admin

admin

Next Post
Sanofi says tolebrutinib drug delayed progressive MS by 31%

Sanofi says tolebrutinib drug delayed progressive MS by 31%

Trending News

FTSE 100 edges up as UK growth slows; Rightmove and M&S shine

FTSE 100 edges up as UK growth slows; Rightmove and M&S shine

September 23, 2024
Interview: iGaming presents opportunities due to its profitability, scalability, and global reach, says Dr. Andreas Ditsche

Interview: iGaming presents opportunities due to its profitability, scalability, and global reach, says Dr. Andreas Ditsche

December 23, 2024
Here’s why the PayPal stock price has crashed and what to expect

Here’s why the PayPal stock price has crashed and what to expect

March 30, 2025
Subscribe to Insightful Word


    Recent News

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    June 26, 2025
    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    June 26, 2025
    S&P 500 nears record high as Wall Street opens higher amid tech momentum

    S&P 500 nears record high as Wall Street opens higher amid tech momentum

    June 26, 2025
    Galaxy Digital launches $175 million fund to back DeFi and stablecoin startups

    Galaxy Digital launches $175 million fund to back DeFi and stablecoin startups

    June 26, 2025

    Recent News

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    June 26, 2025
    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    June 26, 2025

    Latest News

    • S&P 500 nears record high despite headwinds: key drivers behind the surprise rally
    • Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high
    • S&P 500 nears record high as Wall Street opens higher amid tech momentum

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.