China Posts Encouraging Dip in Urban Youth Unemployment

Joblessness among youth in Chinese cities decreased in March, a turn from recent trends. The urban jobless rate for 16-to-24-year-olds fell to 16.5%. Overall urban unemployment is at 5.2%. These changes come as China emphasizes economic support and launches new guidelines for graduate employment services.

BEIJING, April 17 (Reuters) - Encouraging data from March reveals signs of recovery as joblessness among young city dwellers in China decreased, reversing a troubling two-month trend. Official numbers released Thursday indicate a slight drop in the urban jobless rate for 16-to-24-year-olds, a segment excluding students, to 16.5% from February's 16.9%, according to the National Bureau of Statistics (NBS).

The figures also reveal improvements in other age groups: the 25-29-year-old unemployment rate declined from 7.3% to 7.2%, while those aged 30-59 saw a reduction from 4.3% to 4.1%. China's broader urban jobless rate is now 5.2%, down from a two-year high of 5.4% recorded last month.

China's leadership remains committed to boosting economic growth, targeting a 5% increase this year through vigorous fiscal and monetary measures. The State Council has also introduced comprehensive guidelines to enhance employment services for university graduates, acknowledging the critical need to address youth unemployment in the nation's rapidly evolving economy.

(With inputs from agencies.)