MNI (BEIJING ) - China’s urban unemployment rates rose broadly in July, indicating the labour market has remained weak as the world second-largest economy struggles to recover.
Labour market weakness is sapping domestic demand, and is expected to hinder China’s new growth-orientated urbanisation plan, as MNI has reported. (See MNI EM: China’s Urbanisation Target Needs Broader Reforms)
National urban surveyed unemployment rose to 5.2%, the highest since March, from the previous 5.0%, while urban unemployment for those aged 16-24, excluding students, surged to 17.1% compared with 13.2% in June, the highest since National Bureau of Statistics resumed releasing the data last December.
