China youth unemployment will stay elevated in 2024, but EIU warns economic impact will linger
From cnbc.com
China’s youth unemployment will likely stay elevated this year due to a lingering mismatch, according to the Economist Intelligence Unit. It explained the sheer number of new graduates, who often target hot manufacturing sectors, far outstrips jobs — the majority of which are still focused in the lower-skilled sectors. Even though unemployment among China’s young people should dissipate starting next year — when the country’s working-age population declines – the effects of high youth unemployment will remain long after that, the consultancy added. “Despite the upturn in China’s labor market as a whole, the biggest ...
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