China's youth unemployment crisis amid economic challenges

The rise in youth unemployment is exacerbated by several factors. Analysts highlight that many high-value sectors, such as real estate, finance, and IT, have contracted significantly, limiting job opportunities for fresh graduates. Additionally, companies are hesitant to hire new employees due to concerns over the costs and legal complexities associated with potential layoffs. This has led to a backlog of graduates entering a competitive job market without sufficient employment opportunities. As the economy struggles with weak consumer confidence and a declining real estate market, the government has begun to implement stimulus measures aimed at revitalizing economic growth and addressing these pressing employment challenges. For instance, the People’s Bank of China has announced reductions in borrowing costs and liquidity injections to support the economy, though experts suggest that these measures may need to be complemented by further fiscal support to effectively combat the ongoing unemployment crisis.