China Job Crisis: Youth Unemployment Hits a Record High as 11.6 Million Students to Graduate in June

News Snapshot:

China is seeing an unprecedented job crisis as the youth unemployment has hit a record leaving 16- to 24-year-old job seekers without an employment. Urban unemployment among the 16- to 24-year-olds in China hit a record 20.4% in April, about four times the broader unemployment rate even as lakhs of students are expected to graduate from colleges this year, the official data showed. Joblessness among urban youths has sharply risen in the past few months as it was 19.6% in March, the second highest level on record and 18.1% in February. Nearly 11.6 million students are set to graduate this...