Chinese Youth Joblessness Sees Encouraging Decline

Youth unemployment in China's cities eased for the third consecutive month in November. The rate for 16-to-24-year-olds fell to 16.1%, while the 25-29 age group saw a slight drop to 6.7%. Nationwide, unemployment was at 5% amid economic recovery challenges and strategic government measures.

Youth unemployment in Chinese cities has decreased for the third successive month, according to official figures released on Wednesday. The jobless rate for young people aged 16 to 24, excluding students, decreased to 16.1% in November from 17.1% the month prior, data from the National Bureau of Statistics revealed.

Additionally, the jobless rate among 25-29-year-olds saw a slight drop to 6.7% from 6.8%, while unemployment among those aged 30-59 remained stable at 3.8%. The national unemployment rate stood at 5% for November. After a record 21.3% unemployment rate for 16-24-year-olds last year, the bureau has resumed publishing youth joblessness figures after revising its methodology.

China's economic recovery remains shaky amid weak domestic demand and an enduring property crisis. However, there is optimism among officials regarding achieving the 2024 growth target of around 5%. The government is deploying a series of stimulus measures to counter potential economic challenges, including expected increases in tariffs from a second Trump administration.

(With inputs from agencies.)