China suspends release of youth unemployment data
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China’s National Bureau of Statistics said it was temporarily halting its release of youth unemployment data. Reuters. It has been breaking records in recent months and by the end of June it reached 21.3%. Now the authorities argue that they need to review the calculation methodology.
“Currently, most university graduates have already confirmed their jobs, and their employment situation is generally stable,” National Bureau of Statistics spokesman Fu Linghui said, noting that the employment rate among graduates is now “slightly higher than last year.” Mr. Fu explained the need to make changes in the methodology by the fact that “the economy and societies are constantly developing and changing.”
Currently, youth unemployment statistics include data on persons aged 16 to 24, including both those who have already graduated and students. The latter are likely to be excluded from the calculations after the resumption of publication of unemployment statistics, since many of them are not looking for work at all. In addition, the authorities may also adjust the age range of those who will be taken into account when determining the unemployment rate.
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