In China, another worrisome sign emerged as the country seeks to recover from its economic struggles following three years of strict Covid restrictions.
National Bureau of Statistics (NBS) Released information Today (May 16) the country’s youth unemployment rate rose 20% in April. High level Since records began five years ago.
The unemployment rate for 16- to 25-year-olds rose to 20.4 percent last month, up from 19.6 percent in March. China is waiting. 11.58 million Fresh graduates are set to enter the job market this year, and if the hiring demand doesn’t pick up, many young Chinese will be unemployed. Rising youth unemployment is a major obstacle facing Chinese authorities’ pressure. Marriage and birth rate increases Among the youth.
Other labor figures were less dire. Overall city unemployment fell 0.1 percent to 5.2 percent from the previous month, while the jobless rate for those aged 25 to 59 was 4.2 percent.
China’s overall labor market has been declining rapidly in recent years 40 million People leaving the labor force 2019-2022. The trend could hamper China’s hopes for a long-term sustainable economic recovery.
China’s rugged, post-epidemic recovery
Growth since the pandemic has largely been driven by consumption. In April, retail sales and services grew by 18.4% and 13.5%, respectively. Industrial production continued to grow again, increasing by 5.6% compared to a year ago. But still numbers fell short Analysts expected.
“Generally speaking, in April, the national economy continued its recovery progress with increasingly positive aspects,” NBS said in a press release. He added that “housing demand is insufficient and the driving force for economic recovery is not yet strong.”
Beijing wants urban youth to seek jobs in the countryside.
In December, President Xi Jinping addressed the youth of China.Stimulate.” They work in the countryside and in the countryside, in the movement He echoed Mao Zedong’s “To the Countryside” Movement.
Guangdong Province then announced the plan in February. He sent 300,000 young people It was the policy to work in rural areas by the end of 2025 They have been widely criticized. Millions of college-educated Chinese youth are taking to online platforms as they face the future of their education. It doesn’t match Opportunities at work. The Chinese government told the media not to be young peopleselector“As reported by Radio Free Asia, about their work in the action taken Online response.
The weaknesses of the government’s recommendations are embodied in a character from a century-old Chinese novel that has quickly become an Internet meme. According to Semaphore, Kong Yiji—an academic who couldn’t find a job; The beggar ends (pdf) – has Come to be an example The current problem of the young generation. The character comes from a short story published in 1919 by Lu Sun, the father of Chinese modern literature.
Related stories
👪 China is renewing its efforts to encourage young people to marry and have more children.
🚧 Falling sales of excavators in China are dampening hopes for a major economic recovery.
🔋 Chinese battery investments in Europe to triple by 2022
[ad_2]