China's youth unemployment rate, excluding students from 16 to 24, was 15.3 percent in March, remaining flat on a monthly basis, the National Bureau of Statistics (NBS) said on Thursday.
The jobless rate of those aged 25 to 29 was 7.2 percent in March, rising from 6.4 percent from a month earlier. The rate for those aged 30 to 59 was 4.2 percent, down 0.1 percentage point from February.
The youth unemployment rate remains at a relatively high level, especially due to an increase in the jobless rate for those aged 25 to 29, Li Changan, a professor at the Academy of China Open Economy Studies of the University of International Business and Economics, told the Global Times on Thursday, adding that the pressure on college graduates to find jobs is still large.
The youth unemployment rate slightly increased in the first quarter of 2024, and still requires attention, Sheng Laiyun, deputy director of the NBS, said on Tuesday, the paper.cn reported.
Sheng noted that the responsible authorities have been actively creating favorable conditions targeting the employment of college students. He said that special attention is needed regarding structural contradictions, with an oversupply of blue-collar workers along with rising pressure on college graduates.
Chinese local governments across the country have been stepping up efforts to boost their labor market, especially in tackling youth unemployment.
South China's Guangdong Province on Wednesday released an action plan covering 10 aspects from expanding job vacancies to offering skill training, with 34 measures to ensure the overall stability in youth employment, including college graduates.
Southwest China's Chongqing Municipality on Tuesday released an action plan from 2024 to 2027, aiming to attract 1.5 million college graduates and young people to work in Chongqing, with dedicated subsidies targeting both young job seekers and local enterprises.
Despite the current challenges, observers said that there are favorable factors, including firm policy support to help ease the burden of youth employment.
China's policy support system dedicated to the employment of college graduates is comprehensive, covering a wide range of aspects such as direct financial support, Li said.
Li said that the importance of the detailed implementation of policies will play a vital role in boosting youth employment. He noted that the improving business climate will be crucial in contributing to the stabilization of the labor market.
China's overall labor market in the first quarter remained stable with the surveyed urban unemployment rate in the first quarter of 2024 coming in at 5.2 percent, down 0.3 percentage points from a year earlier, according to NBS data released on Tuesday.
The government's dedicated policies to stabilize employment, the economic revival resulting in a growing recruitment demand, and the overall adjustment of the labor market were the major factors leading to the drop, Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, told the Global Times.
Analysts also highlighted the rapid development of new quality productive forces as a new growth lever o drive up demand for human resources.
