China’s youth unemployment rate surged to a record 21.3% in June
China’s National Bureau of Statistics announced Tuesday that it will not disclose its unemployment data on some age groups, which typically shares previous month’s numbers around this time, after its youth jobless rate hit a record 21.3% in June.
The bureau says it needs to reassess its methodology. But China has long been criticized for its lack of transparency; throughout the COVID-19 pandemic, the government was accused of underrepresenting its death toll and infection numbers.
According to bureau spokesperson Fu Linghui, a survey found overall unemployment among urban workers was 5.3%, up 0.1 percentage points from June.
China’s other problems
Growth in consumer spending decelerated to 2.5% over a year earlier in July from the previous month’s 3.1%, according to Fu.
Growth in factory output slowed from 4.4% to 3.7’, according to Tuesday's data, as export demand plunged. Investment in factories, real estate and other fixed assets rose 3.8%, down from June’s 3.4%.
