The unemployment rate among China's youth is soaring, while millions more are about to graduate. According to the Chinese Ministry of Education, 11.6 million college students are expected to graduate in June, an increase of 820,000 over 2022, reported The Straits Times.
The government reported last week that 20.4 per cent of people aged 16 to 24 looking for a job were out of work in April.
Notably, nearly 12 million Chinese expected to enter the job pool in June at a difficult time. One in five Chinese graduates is jobless, the highest level since China started announcing such statistics in 2018, reported The Straits Times.