Chinese Youth Jobless Rate Lowest in A Year

China’s youth jobless rate for 16- to 24-year-olds, excluding college students, fell to 14.5% in June 2025 from 14.9% in the previous month, marking the lowest reading since June 2024, according to data from the National Bureau of Statistics released Thursday. Meanwhile, the surveyed jobless rate in the country held at a six-month low of 5% in June, matching market consensus. Beijing recently introduced new employment-stabilization measures amid ongoing trade tensions with the U.S. and persistently high youth unemployment. To ease pressure on the labor market, the State Council announced that local governments will increase unemployment insurance refund rates, raising them to 90% for small firms (from the prior 60%) and 50% for large firms (from 30%). Companies grappling with operational difficulties may also apply to defer payments to pension, unemployment, and workplace injury insurance schemes.