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Over 20 Mn Chinese Youth out of jobs due to C-19 surge

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Amidst the rise in COVID-19 cases, China is also witnessing a surge in unemployment with around 20 million people aged 16 to 24, are out of work in cities and towns.

The shocking data was calculated by CNN with inputs from the National Bureau of Statistics. With this, the unemployment rate in China has hit a new high this year. The deplorable figures also reveal that about one out of five youths in Chinese cities are unemployed.

The recent surge in COVID-19 cases followed by the imposition of stringent zero-COVID policy measures by the Chinese administration can be attributed as one of the reasons for the deplorable figures. According to the Hongkong Post, the figures have been on the rise since March this year. The figures rose from 15.3 per cent in March to a whopping 18.2% in April. In July the figure reached 19.9% however things looked better in August with a slight dip of 18.7% in the unemployment rates.

The Chinese economy in general is spiralling down since the top companies are laying off their employees in the country. The reason behind the layoffs is the disruption of supply due to the lockdown measures imposed by the Xi Jinping administration. According to CNN, the situation can become worse next year as around 11.6 million college graduates will enter the job market. The current surge in cases after the relaxation of COVID-19 curbs has rattled the employment markets in China to a great extent.

Willy Lam, a senior fellow of the Jamestown Foundation told The Hong Kong Post, “This is certainly China’s worst job crisis for young people in over four decades. Mass employment is a big challenge for the Communist Party”.

Monday, January 2, 2023 – 01:00

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