The Chinese Communist government announces various “task forces” to deal with record-high 19.9% youth unemployment.
by John Hayward
The Chinese Communist government slapped its bureaucratic panic buttons on Monday, announcing various “task forces” to deal with a crumbling national economy, particularly the record-high 19.9-percent youth unemployment rate recorded in July.
Data provided by the Chinese government should always be viewed with suspicion, and unemployment data has only been made public in its current form for about four years, but July’s 19.9 percent rate for people aged 16-24 beat the record high of 19.3 percent recorded in June, and was vastly higher than its pre-pandemic low of 9.6 percent.
International analysts told Voice of America News (VOA) last week that China’s madcap coronavirus lockdowns have devastated the job market, and the news is probably even worse for recent school graduates than the grim picture painted by the official numbers…