The one word reason why Chinese authorities are piling into stimulus right now. Panic. | Forexlive

The 2024 class of university graduates in China is the largest ever, at 11.8mn. They are entering a labour market showing record youth unemployment.

Media reports, in summary, outline the cornering situation facing the oldies clinging on to power in the Politburo.

Youth unemployment (16-24) hit 18.8% in August, near all-time high
Less than 30% of firms hiring as many new grads as last year due to cost-cutting
Key sectors for youth employment struggling:
- Property sector in crisis
- Tech and internet industry facing regulatory pressures
- Tutoring industry hit by crackdowns
Government temporarily paused reporting youth unemployment data in 2023
Resumed with new calculation method, excluding current students
Rate climbed back up despite methodological changes
Recent stimulus measures announced, but effectiveness questioned by some
President Xi promises support for workers and poor families, details lacking
Some estimates put real youth unemployment much higher, potentially up to 46.5%
Employed youth facing gruelling work conditions due to employer leverage