China youth unemployment hits high as recovery falters

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China youth unemployment hits high as recovery falters
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The jobless rate of 16 to 24 year olds in urban areas rose to 21.3% last month, official figures show.

It comes as the world's second largest economy grew just 0.8% in the three months to the end of June.

"This, coupled with earlier trade, inflation and credit reports, reaffirmed our view that the underlying growth momentum is still very weak," she added. Authorities have admitted that youth unemployment will probably continue to rise in the coming months, before hitting a peak around August. "Their expression of discontent of the current situation may trigger a wider loss of confidence in the economy," she added.

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