U.S. President Joe Biden on Thursday called China a "ticking time bomb" because of its economic challenges and said the country was in trouble because of weak growth.
As of Jun 2023, the “The Urban Surveyed Unemployment Rate of the Population Aged from 16 to 24(%)” was 21.3%.
The “Urban Surveyed Unemployment Rate of the Population Aged from 25 to 59(%)” was 4.1%.
The overall unemployment rate was 5.2%.
“The sluggish pace of growth in 2023 is piling pressure on Beijing to reignite an expansion that is in danger of fizzling out as consumers refrain from spending and exports slump. A drawn-out real estate crunch and shaky local-government finances are compounding the gloom. More than a fifth of Chinese age 16 to 24 are out of work.”
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This is the official government reporting: https://data.stats.gov.cn/english/easyquery.htm?cn=A01
As of Jun 2023, the “The Urban Surveyed Unemployment Rate of the Population Aged from 16 to 24(%)” was 21.3%.
The “Urban Surveyed Unemployment Rate of the Population Aged from 25 to 59(%)” was 4.1%.
The overall unemployment rate was 5.2%.
This site references the same data, but provides better visual charts:
https://tradingeconomics.com/china/youth-unemployment-rate
https://tradingeconomics.com/china/unemployment-rate
the Wall Street Journal reports.
“The sluggish pace of growth in 2023 is piling pressure on Beijing to reignite an expansion that is in danger of fizzling out as consumers refrain from spending and exports slump. A drawn-out real estate crunch and shaky local-government finances are compounding the gloom. More than a fifth of Chinese age 16 to 24 are out of work.”
https://www.wsj.com/articles/chinas-economy-barely-grows-as-recovery-fades-5652a92a?mod=hp_lead_pos1
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