17.07.202505:46:04UTC+00China Youth Jobless Rate Lowest in A Year

China's unemployment rate for young individuals aged 16 to 24, excluding college students, fell to 14.5% in June 2025, down from 14.9% in May. This decrease marks the lowest level since June 2024, according to figures released by the National Bureau of Statistics on Thursday. Concurrently, the nationwide surveyed unemployment rate remained steady at a six-month low of 5% in June, aligning with market expectations. In response to ongoing trade tensions with the U.S. and high youth unemployment, Beijing has implemented fresh measures to stabilize employment. As part of these efforts, the State Council has announced that local governments will enhance unemployment insurance refund rates, increasing them to 90% for small businesses (up from 60%) and 50% for large enterprises (up from 30%). Furthermore, firms experiencing operational challenges will be allowed to postpone contributions to pension, unemployment, and workplace injury insurance programs.