China's National Bureau of Statistics has released youth unemployment data for the first time since June 2023, showcasing a new method that appears to reflect an improvement in the situation. The country announced a 14.9% jobless rate for individuals aged between 16 and 24 in December, excluding students from the calculation. This change in methodology comes after a surge in youth unemployment caused by an economic slowdown and regulatory crackdowns on sectors such as technology and education, which typically employed a younger workforce.
Previously, the youth unemployment rate in China included students who worked at least one hour a week as employed and those who desired jobs but couldn't find them as unemployed. However, the statistics bureau deemed it necessary to modify the calculation to provide better insight into the employment and unemployment situation of young people entering society.
