China stops publishing data on youth unemployment as economic worries deepen

News Snapshot:

China’s government has stopped giving an update on a politically sensitive spike in unemployment among young people as official data showed an economic slump deepened in July. Meanwhile, the central bank unexpectedly cut a key interest rate in a sign of growing official urgency about shoring up economic growth that fell sharply in the three months ending in June. Youth unemployment is sensitive after a survey in June found a record 21.3 per cent of potential urban workers aged 16 to 24 could not find work after an economic rebound following the end of coronavirus controls fizzled out. Publication of...