According to figures from earlier this year, one in every five Chinese youngsters is unemployed.
China has halted the distribution of data on youth unemployment, which reached a record high in June, claiming the need to review its methodology for calculating the crucial economic indicator. Today (Aug. 15), the country’s National Bureau of Statistics (NBS) issued monthly economic data, noting that the jobless rate remained stable at 5.3%, up 0.1% from July. Typical numbers on youth unemployment ages 16 to 24 were not included in the study.
Fu Linghui, a bureau spokesperson, stated during a press briefing (link in Chinese) in Beijing that reporting of the statistic will be suspended beginning in August. According to him, the NBS is attempting to “improve and optimize” its labor force data in response to changes in China’s economy and society.
“Whether students who are looking for a job before graduation should be included in labor force survey statistics has differing opinions in society, and further research is needed,” Fu added, before hinting that the age range for the statistic may also be reviewed.
According to the NBS, young unemployment reached 21.3% in June, the highest level since records began five years ago.
Youth unemployment is just one indicator of China’s difficulty in rebounding from epidemic shutdowns. According to a Reuters article, retail sales, factory output, and investment data reported today also fell short of analyst projections, indicating that the economy is in crisis across the board. In an effort to stimulate the country’s lagging economy, the People’s Bank of China reduced its benchmark loan rate unexpectedly today.
Young people are returning home rather than seeking employment in cities such as Beijing or Shanghai.
Unofficially regarded as China’s first-tier cities, Beijing, Shanghai, Guangzhou, and Shenzhen all have big populations and high levels of economic development. The four metropolitan centres have long attracted young graduates wanting to start their careers, but many are returning home to work due to a lack of job possibilities.
According to education research firm MyCOS, an estimated 47% (link in Chinese) of all graduates in 2022—a total of 10.76 million—have now returned to their provincial homes rather than seek work in a big-four city, a 4% rise from 2018.
The class of 2023 in China poses “zombie style” in a mock celebration.
Youths in China have created various memes to show their dissatisfaction with economic chances in the face of a grim job market. The “lie flat” () and “let it rot” () tendencies both evolved in recent years as a type of passive protest against the high productivity and accomplishment expectations placed on China’s youth. With 11.6 million graduates, the 2023 graduating class is the largest in China’s history, and they’ve established a new trend: posing “zombie style” for their graduation photos.
Images of students sprawled and slumped over school campuses in their caps and gowns have filled the Chinese social networking site Xiaohongshu, which is similar to Instagram. Many graduating students spent the most of their academic career sequestered under covid regulations and now face uncertain economic prospects. Posing as a “zombie” has become a way for people to express and communicate their current mentalities and concerns (with a dash of fun).