China's Youth Unemployment Hits 18.8% Amid Economic Woes

China's youth unemployment rate surged to 18.8% in August, the highest level this year, as the country grapples with a slowing economy. This marks an increase from 17.1% in July and comes after nearly 12 million university graduates entered an already saturated job market in June. The unemployment rate among those aged 25 to 29 also rose to 6.9% from 6.5% in July. The National Bureau of Statistics' revised methodology now excludes students to better reflect the workforce size. President Xi Jinping has labeled youth unemployment a 'top priority' amid broader economic challenges, including disappointing retail sales and industrial production growth, a debt-laden property sector, and ongoing trade tensions with the West.