The Truth Behind China's Unemployment Data and Its Global Impact
A Chinese economist says that China's growing unemployment could have a disastrous impact on its citizens and far-reaching consequences on the global landscape.
China stopped releasing the youth unemployment rate in August after it soared to a record high of 21.3% in June. Since then, the world has been in the dark about the employment situation in China. But a Chinese economist's analysis has presented us with a gloomy picture: China could face a staggering situation with up to 120 million unemployed people at risk of starvation.
The following is the process of how he reached his conclusion. It is all based on official data. The math might be dry, but the findings are solid and crucial.
Two Classes of People in China: Urban Hukou and Rural Hukou
First of all, we need to understand that in China, everyone has a so-called household registration ("hukou 户口"). If one was born in a city and registered there, he or she is considered an urban household population.
If one was born in the countryside, or born in the city but his or her parents were registered in the rural population, one is still considered a rural household. Even if one works or moves to a city, he or she will always be considered a rural hukou person. That is unless he or she obtains a city hukou quota and changes his or her registration to a city hukou.
Since the Chinese Communist Party (CCP) established its regime, this household registration system has divided people into two major classes. One is either urban or rural. For many years, also, the CCP restricted the free movement of people.
This is why all official population and employment-related data are categorized into urban and rural populations.
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12/21/2023
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