Youth unemployment in China ticked up to 17.1% in July, official figures showed, the highest level this year as the world's second-largest economy faces mounting headwinds

Youth unemployment in China ticked up to 17.1% in July, official figures showed, the highest level this year as the world’s second-largest economy faces mounting headwinds.

China is battling soaring joblessness among young people, a heavily indebted property sector and intensifying trade issues with the West.

Chinese Premier Li Qiang, who is responsible for economic policy, called Friday for struggling companies to be “heard” and “their difficulties truly addressed,” according to the state news agency Xinhua.

The unemployment rate among 16- to 24-year-olds released Friday by the National Bureau of Statistics (NBS) was up markedly from June’s 13.2%.

  • Jessica@discuss.tchncs.deEnglish
    517·
    3 months ago

    Well hey good news, college is still free as long as you’re poor and at least 25 years old. That’s how you get a federal PEL grant to break even on college. Your state probably has grants to literally pay you to go to school on top of the PEL grant since you’re poor. That’s how I did it.

          • locuesterEnglish
            1·
            3 months ago

            Then why aren’t you saving for retirement?

              • locuesterEnglish
                1·
                3 months ago

                I thought that was your implication above about a bullet to the head being your retirement

                • ravhall@discuss.onlineEnglish
                  31·
                  3 months ago

                  … right? that’s the plan since I doubt there will be resources available.

                  None of those retirement planner websites calculate for inflation and other things like the effects of climate change on the economy, etc.

      • Jessica@discuss.tchncs.deEnglish
        413·
        3 months ago

        Never too late to go back and get another degree. I’m pretty sure the federal PEL grant will pay for 2 bachelor degrees so you aren’t disqualified for having already gone to school.

        In other news, I don’t know why there are so many haters downvoting me.

        • ravhall@discuss.onlineEnglish
          122·
          3 months ago

          They aren’t haters. They’re down voting the boot strap boomer. I don’t need Another degree. I need companies to pay salaries that reflect inflation. I need my government to have Social Security reflect inflation. I need my government to prevent corporations and “ Investors” From purchasing all the single-family homes, driving the price up to a level where what used to be a starter home is now $500,000. And I need little shits like you to wake the fuck up. That’s why they’re down voting you.

          • Jessica@discuss.tchncs.deEnglish
            38·
            3 months ago

            First of all, I’m a millennial lol.

            Second of all, you’re preaching to the choir, and I agree on all points. I was simply trying to give some helpful advice in the form of a way to play the game that is becoming successful in America right now as I was literally just describing how I did things because it worked for me, and it’s worked for others as well.

            I was poor for many years as an adult. I went to college, and I got into computer science. After 5 years in my career, I just (barely) got to a 6 figure salary at my last review. I’ve been putting as much as possible into retirement and living very modestly because I know there likely won’t be any social security for me so I took matters into my own hands.

            Oh and for the record, my company doesn’t match inflation, and I’m still a renter and will probably never be able to afford a home.

            • ravhall@discuss.onlineEnglish
              52·
              3 months ago

              You’re never going to be able to retire. By the time your are ready, inflation and other nonsense will have made your money worth a fraction of its value. Even if you invest, they are not going to pay out enough to keep the value the same. Sure, you may retire at 70 with a million dollars, but that would be like having 200k now, which doesn’t allow for retirement care. And that’s assuming social security is even around.

              You keep on with those hopes and dreams. It’s better to be blissfully ignorant and find out later than know the entire time you’re hosed and there’s nothing you can do about it, because the system doesn’t want you.