On Wednesday, China released a youth unemployment rate of 14.9% for December, a substantial drop from the rate of more than 20% in June that spawned headlines about record high youth unemployment as the economy struggled to regain its footing last year. Another problem for economists is the NBS hasn’t recalculated past youth unemployment rates, as is common when statistical authorities rewrite their rules. Economists have long held misgivings about the quality of data on China’s labor market, in particular how it measures joblessness. China stopped publishing its youth unemployment rate in August, as the challenges facing China’s young people had become a focus of international attention—and potentially embarrassing for the ruling Communist Party. Setting aside the fog surrounding China’s new figure, some economists see few signs elsewhere that point to a stronger labor market.

Source: Wall Street Journal January 19, 2024 15:23 UTC