China's youth jobless rate fell in May to 14.2%, the lowest level since the country's statistics bureau revised the metric's methodology at the start of the year.
The urban jobless rate for workers aged 16 to 24 years old, excluding students enrolled in schools, fell in May from April's reading of 14.7%, the National Bureau of Statistics said Wednesday.
The statistics bureau had said Monday that the overall unemployment rate was unchanged from the prior month at 5.0% for May.
China had suspended the release of the youth jobless rate last summer when the figure soared to a record high of 21.3% in June 2023. The statistics bureau said last July that it would change its methodology to exclude students in its calculation of the youth unemployment rate.
The bureau resumed the release of youth unemployment data at the start of 2024, which has been far below the 20% levels seen last year.
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(END) Dow Jones Newswires
06-19-24 0353ET
