The situation in China has changed

(1)Professor of Beijing University claims that China’s youth unemployment rate is actually close to 50
(2)Input 20230720 PM 328
(3)Reporter Im Jin-soo
(4)a family of one street
(5)China’s official youth unemployment rate hits early 20s
(6)Unemployment rate including those who give up looking for a job temporarily
(7)a surge in claims
(8)Unemployment rate from July to August due to seasonal fluctuations
(9)It keeps going up

(1)Screenshot of SHINHWA history
(2)While China’s youth unemployment rate between the ages of 16 and 24 is at an all-time high every month, the actual youth unemployment rate in China is close to 50, including temporary job seekers, according to an analysis
(3)Jangdan Dan, a professor at the National Development Institute at Beijing University, claimed in an article published in the Chinese economic media Caixin on the 17th that the real youth unemployment rate estimated as of March was 465

(1)In the same month, the National Bureau of Statistics announced that the youth unemployment rate was 196
(2)Professor Jang analyzed that the youth unemployment rate is much higher, including the newly coined words referring to the generation where the Tangping people lie down and do nothing, and the Kangaroo people who depend on their parents

(1)As of March, China’s youth population totaled 96 million
(2)Of these, the working population is 32 million Government statistics classify 6.3 million of these working people as unemployed and calculate the unemployment rate
(3)However, Professor Jang claims that the 16 million non-receiving students, such as Tangping and Kangaroo, who temporarily gave up looking for a job and are willing to return to the labor market at any time, are also classified as the working population
(4)Professor Jang said, “If the employment situation is not good, a large amount of labor may choose to wait and see or be temporarily kicked out of the labor market,” adding, “Those who are considered frustrated or hidden unemployed may be excluded from the unemployment statistics, causing a misjudgment of the overall situation in the labor market.”

(1)Meanwhile, the youth unemployment rate rose significantly earlier this year
(2)It is not only due to structural contradictions such as a long-term lack of demand after COVID-19, but also a significant increase in the supply of college graduates in the short term, predicting that the unemployment rate is expected to continue to rise from July to August due to seasonal fluctuations
(3)China’s youth unemployment rate hit 213 in June, also breaking the previous record of 208 in the previous month China’s youth unemployment rate has been high for three consecutive months since it surpassed 20 for the first time in April this year
(4)In particular, as Professor Jang explained, the youth unemployment rate is likely to rise further due to the influx of new graduates from July to August this year. The number of Chinese university graduates this summer is the largest ever at 11.58 million, up 820,000 from last year