China’s job market woes deepen as youth unemployment hits record since 2023

China’s urban youth unemployment rate rose last month to the highest level since the data set was adjusted in 2023, as career prospects for young people have weakened amid an economic slowdown.

The jobless rate for those aged 16 to 24, excluding students, rose to 18.9 per cent in August from 17.8 per cent in July, according to data released by the National Bureau of Statistics on Wednesday.

After the jobless rate for the demographic rose to an all-time high of 21.3 per cent in June 2023, Beijing suspended the monthly data release for five months before introducing a revised method of calculating it for December 2023.

A record 12.2 million university students graduated this summer, with the majority of them joining a job market strained by deflationary pressures and external uncertainties. Many of them are struggling to find roles that match their education level and skills.

Maggie Li, a fresh graduate from China’s northern Hebei province, has been job-searching since the beginning of August, after an offer that she had previously accepted was suddenly rescinded without explanation.

The hotel management graduate is looking for administration and human resources positions in Beijing and has had seven interviews so far, but none of them have led to a suitable offer for her background.

“Two of the interviews were for roles different from what was originally advertised,” she said.