Construction of China Vanke Co.'s Isle Maison development in Hefei, China, on Monday, November 27, 2023.
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BEIJING – China has started reporting youth unemployment again.
The National Bureau of Statistics said on Wednesday that, excluding people still in school, the unemployment rate among young people aged 16 to 24 was 14.9%, while the urban unemployment rate was 5.1% in December.
The agency had temporarily suspended publication of the unemployment rate for the younger age group over the summer, citing the need to reassess calculation methods.
That unemployment rate had previously risen to records above 20%.
China also reported fourth-quarter GDP figures that were slightly below expectations, putting growth in 2023 at 5.2%.
China's GDP rose 5.2% in the last three months of 2023, China's National Bureau of Statistics said on Wednesday. That is less than the 5.3% predicted in a Reuters poll.
Retail sales rose 7.4% in December from a year ago, exceeding expectations for 8% growth.
Industrial production rose 6.8% in December from a year earlier, exceeding expectations of 6.6% growth.
Investments in fixed assets increased by 3% for 2023, slightly above the forecast increase of 2.9%.
This is a development story. Check back for updates.