Is China’s recovery about to stall?
The country appears to be stuck in a confidence trap
China’s youth represent just a sliver of the country’s working-age population and an even narrower share of its workforce. Many of those aged 16 to 24, after all, are still in school or university and therefore not seeking employment. In recent years, their job prospects have nonetheless compelled attention and raised alarm. Last month, overall unemployment in China fell from 5.3% to 5.2%, according to figures released on May 16th. This improvement was overshadowed by a rise in youth unemployment to 20.4%, the highest recorded since the data began 2018.
This article appeared in the Finance & economics section of the print edition under the headline “Confidence trap”
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