The Aporia
In August 2023, China's urban youth unemployment rate for those aged 16 to 24 (excluding students) reached 18.9%, an increase from 17.9% in July and the highest since Beijing revised its calculation methodology to exclude students in 2023. This revision followed a peak of 21.3% under the old system reported in June 2023. The rising unemployment is attributed to a record influx of university graduates struggling to secure jobs amid weak domestic demand and growing AI adoption, exacerbating concerns about economic challenges for young people entering the workforce.
Anxieties over AI’s growing threat to entry-level roles add to existing concerns about economic doldrums caused by weak domestic demand