China’s youth unemployment rate fell for the third consecutive month in May, but remained higher than at the same point last year, suggesting the job market is still under intense pressure ahead of a critical graduation season.
But the rate remains higher than the 14.2 per cent reading recorded last May, and is likely to shoot up once again when a record 12.2 million university students graduate and enter the job market this summer.
“China still faces pressure in maintaining stable employment, mainly due to complex changes in the external environment,” said NBS spokesperson Fu Linghui on Monday.
“The coexistence of recruitment difficulties in some domestic industries and great employment pressures for certain groups persists, with ongoing issues regarding a mismatch between human resource supply and demand.”
