China's Youth Unemployment Rate Hits 17.1% in July... Highest Since Statistical Revision
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Major foreign media reported on the 16th that China's youth unemployment rate last month reached 17.1%. This is an increase of 3.9 percentage points from the previous month of June (13.2%) and is the highest since the National Bureau of Statistics of China changed its statistical method in December last year.
Previously, when China's youth unemployment rate surged to 21.3% in June last year, the statistical announcement was suddenly suspended. Since then, a new youth unemployment rate excluding students has been announced starting from December of that year. The new youth unemployment rate has remained around 14%.
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The urban unemployment rate announced by the National Bureau of Statistics of China the day before also rose by 0.2 percentage points from 5.0% in June to 5.2% last month.
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