BEIJING (Reuters) -Youth joblessness in Chinese cities fell for a fourth straight month in December, official data showed on Monday.
The urban jobless rate for 16 to 24-year-olds, excluding students, declined to 15.7% from 16.1% in November, according to data from the National Bureau of Statistics.
The data point reached its highest at 18.8% in August last year.
The unemployment rate for 25 to 29-year-olds slipped to 6.6% from 6.7%. But the jobless rate for 30 to 59-year-olds edged up to 3.9% versus 3.8%.
The nationwide jobless rate was at 5.1% in December, according to data released by the statistics bureau last Friday.
For some months in 2023, China stopped reporting the data for youth joblessness after the unemployment rate for the youngest group, 16 to 24-year-olds, hit a record 21.3% in June 2023.
The National Bureau of Statistics resumed publishing the closely watched benchmark in December 2023 after changing the methodology to exclude students.
The jobless rate also does not account for job seekers who have given up on job searches, and does not assess the unemployment situation in rural China.
China’s economy grew 5% last year, matching the government’s target, but many still complained of worsening living standards as Beijing struggles to transfer its industrial and export gains to consumers.
The government has announced a wave of stimulus measures to buttress the economy ahead of more external headwinds expected from Donald Trump’s second term as United States president.
If the bulk of the extra stimulus Beijing has lined up for this year keeps flowing towards industrial upgrades and infrastructure, rather than households, it could exacerbate overcapacity in factories, weaken consumption, and increase deflationary pressures, analysts say.
(Reporting by Liz Lee and Beijing newsroom; Editing by Christian Schmollinger and Emelia Sithole-Matarise)
