China’s youth unemployment rate dropped in November, reports the South China Morning Post. However, competition remains fierce for university graduates trying to find work that matches their qualifications.
The jobless rate for those aged 16 to 24, excluding students, fell to 16.9% in November from 17.3% in October, according to data released by the National Bureau of Statistics on Thursday. The rate was reported to have eased since August, when the graduation of a record 12.2 million university students over the summer pushed it to 18.9%, the highest level since the data set was adjusted in 2023 to exclude students.
The job market, weighed down by deflationary pressure and external risks, remains plagued by a mismatch between skills and vacancies, pushing many graduates to settle for blue-collar jobs or gig work.