China’s jobless rate for youngest working group edges down in May amid economic strains (opens in new tab)

China’s youth jobless rate inched down in May but remained at a higher point than last year, as the war in Iran weighed on domestic business confidence and an already soft job market. The jobless rate for the 16-to-24 age group, excluding students, fell to 15.6 per cent in May from 16.3 per cent in April, according to data released by the National Bureau of Statistics on Monday. The reading was higher than the 14.9 per cent recorded in the same month last year. While a deal with Iran has been...