Overview

• Official August data put the unemployment rate for 16–24 year‑olds at 18.9%, the highest since the methodology was revised to exclude students.
• Overall surveyed unemployment rose to 5.3% in August, up 0.1 percentage points from July, according to the National Bureau of Statistics.
• Industrial production grew 5.2% in August, the weakest pace in a year, and retail sales remained subdued.
• Authorities suspended monthly youth‑jobless releases after the rate exceeded 21% in June 2023, then resumed in December at about 15% under the new method.
• Beijing is targeting about 5% GDP growth this year, a goal many analysts view as ambitious given soft demand and labor‑market strains.