Global Courant
Employees work on the assembly line of the J7 truck at a factory under FAW Group in Changchun, Jilin Province, on June 14, 2023.
Chinese news service | Chinese news service | Getty Images
BEIJING — China’s youth unemployment rose to a record high in May as key data beat expectations, according to data released Thursday by the National Bureau of Statistics.
The unemployment rate for young people aged 16 to 24 rose to 20.8% in May, a record high and higher than the April record. The unemployment rate for people of all ages in cities was 5.2% in May.
May retail sales rose 12.7% in May from a year ago, below expectations for 13.6% growth predicted by a Reuters poll.
Industrial production rose 3.5% in May from a year ago, slower than the 3.6% expected in the Reuters poll.
Analysts are forecasting a 4.4% increase in fixed asset investment for the first five months of the year from a year ago.
Fixed asset investment for the first five months of the year rose 4% from a year ago, slower than the 4.4% forecast by Reuters.
