China unemployment: Beijing’s regulatory crackdowns pose yet another hurdle for young urban jobseekers

ca8c38fc-161f-11ec-ab69-f2bfe93835cf_image_hires_120853

Roughly one out of every seven young urban workers in China remains unemployed, as Beijing’s regulatory crackdowns on key industries are adding further pressure on the nation’s weak jobs sector amid more signs of a broad economic slowdown, according to the latest economic data.

The official figures indicate that the surveyed jobless rate for workers aged 16 to 24 – which includes most high school and college graduates – hit 15.3 per cent in August, the National Bureau of Statistics said on Wednesday in its monthly update.