Experts Express Concern Over CCP’s Release of Unemployment Rate in Chinese Economy
News Analysis
The National Bureau of Statistics of the Chinese communist regime recently released new economic data for February, revealing a higher unemployment rate.
Experts express concerns over the latest unemployment figures, stating that high unemployment leads to reduced consumption, which in turn affects domestic demand and subsequently impacts companies’ hiring practices.
According to the Bureau of Statistics, the urban unemployment rate in February was 5.3 percent, marking the third consecutive monthly increase from 5.1 percent in December last year to 5.2 percent in January and ultimately reaching 5.3 percent in February, returning to the level seen last July.
The unemployment rate among the 16 to 24-year-old labor force in urban areas (excluding students) was 15.3 percent, while it was 6.4 percent for those aged 25 to 29, and 4.2 percent for the 30 to 59-year-old demographic. Observers believe that the CCP’s official data often masks unfavorable conditions, suggesting that the actual figures could be worse.
Chinese scholar Zhang Dandan previously mentioned in a research article last year that if approximately 16 million idle young individuals were considered unemployed, the real youth unemployment rate in March would have been as high as 46.5 percent.
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