Official data show a sharp rise in youth joblessness in China, with the July rate climbing to 17.1 percent, the highest observed this year. The data come as Reuters notes that the world’s second-largest economy is facing multiple headwinds, including elevated youth unemployment, a leveraged property market, and growing trade frictions with Western partners. These pressures add to concerns about the pace of economic recovery and the ability of new graduates to find suitable work in a tight labor market.
Li Qiang, the premier overseeing China’s economic policy, urged struggling companies to speak up and seek real solutions to their problems. The unemployment rate for young people aged 16 to 24, as reported by the State Statistics Office, shows a notable uptick from 13.2 percent in June, signaling persistent challenges for younger workers even as some sectors show signs of stabilizing.
The June graduation cycle was significant, with close to 12 million students completing university programs. This large wave of new graduates intensified competition for a limited pool of roles, helping explain the pronounced increase in July’s youth unemployment figure. President Xi Jinping has previously emphasized the importance of addressing youth unemployment as a national priority, underscoring the government’s focus on creating pathways for young talent.
Among workers aged 25 to 29, the unemployment rate edged up to 6.5 percent in July from 6.4 percent in June, while the broader workforce average stood at 5.2 percent. These numbers illustrate the uneven recovery across different age groups and the ongoing adjustments underway in the labor market as firms recalibrate hiring practices and wage expectations.
Earlier coverage highlighted core challenges facing employers in Russia last year, including talent selection, retention, and inflated salary expectations among applicants. Analysts also pointed to the growing importance of broad social benefits, the expansion of voluntary health insurance programs, and rising interest in managers’ liability insurance as notable trends shaping the labor market. These observations reflect broader shifts in how organizations recruit, compensate, and protect their workforces in a dynamic economic environment.
Additionally, the flow of labor migrants from CIS countries into Russia showed a pronounced peak followed by a noticeable decline. This pattern underscores how migration dynamics influence local labor supply and wages, adding another layer of complexity to the regional employment landscape.