Growing Youth Unemployment Crisis in Chinese Cities

Youth joblessness in Chinese cities increased in February, with the national jobless rate hitting a two-year high. The urban unemployment rate for 16-24-year-olds rose to 16.9%, and the overall urban rate was 5.4%. China's leaders plan fiscal support to boost domestic consumption amidst economic challenges.

Youth unemployment in Chinese cities saw an unsettling rise for the second consecutive month in February, pushing the nation's overall jobless rate to a two-year peak, based on official statistics released Thursday.

The urban unemployment rate for individuals aged 16 to 24, excluding students, surged to 16.9% from 16.1% in January, according to the National Bureau of Statistics. Meanwhile, the unemployment rates for those aged 25-29 and 30-59 followed suit, increasing to 7.3% and 4.3% respectively.

China's leaders are reaffirming their commitment to robust fiscal and monetary measures to invigorate the economy, with an accent placed on enhancing domestic consumption. However, the sustainability of their economic goals remains uncertain amid ongoing trade tensions with the U.S., subdued consumer demand, and a prolonged property sector slump.

(With inputs from agencies.)