unemployment rate between Young people aged 16 to 24 In China, it rose to 20.8% in May, record numbersthe National Bureau of Statistics said on Thursday.
“So far, all the data have sent a consistent signal that economic momentum is weakening,” Zhang Zhiwei, chairman of Pindian Asset Management, said in comments.
The metric, which focuses on urban youth, has not stopped rising in recent months, Already hit a record 20.4% in April.
For the entire urban population, The unemployment rate in May was 5.2%. No change from the previous month.
The Asian giant’s statistics office also reported a 3.5 percent rise in industrial production, which It rose 5.6% in April.
Retail sales, a key indicator of household consumption, rose 12.7 percent from a year earlier, compared with 18.4 percent in the previous month.
Sluggish domestic demand, near-stagnant inflation, and global uncertainty is holding back the recovery of the world’s second-largest economy After the anti-epidemic restrictions are lifted.