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China Halts Data on Youth Unemployment Rate Amid Economic Slowdown

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News > China halts data on youth unemployment rate on .

China has ceased publishing monthly figures on youth unemployment, which had shown an increase every month this year, as per The New York Times. The decision, announced on Tuesday, August 15, 2023, followed the record high youth unemployment rate reached in June. The Chinese government attributed the halt in publishing to a need for reviewing the calculation methodology of the data. The action has sparked concerns among investors regarding the performance of the Chinese economy, which has been struggling in the past few months.

The unemployment rate among young people has been viewed as a significant indicator of the country's economic downturn. Throughout the year, the rate had increased steadily, with the June figure reaching an all-time high. Some critics have denounced the decision to halt the publication of this information as an effort to hide the real conditions of the economy.

China's economy has faced recent struggles, with weak economic indicators for July released simultaneously with the announcement about the suspension of youth unemployment data. These developments have raised concerns regarding the country's economic prospects and the potential impact on global markets.