Sarah Y Tong

Aug 16, 2023 | channelnewsasia.com | Sarah Y Tong |Li Yao |Zhou Na

SINGAPORE: In mid-July, China reported sluggish quarter-on-quarter growth of 0.8 per cent over April to June, down from 2.2 per cent in the first quarter of 2023. What is more alarming is that the country’s unemployment rate among 16- to 24-year-olds has reached a record high of 21.3 per cent. This figure is four times higher than the overall urban unemployment of 5.2 per cent, and marks a sixth consecutive increase since January.