China Conceals Soaring Youth Unemployment As Lying Flat Movement Gains Steam
• China stopped publishing its youth unemployment rate when it hit a record high of 21.3% in June • Anecdotes suggest many young Chinese are part of a "lying flat" movement to opt out of the job market or become "full-time adult children" living with parents • True unemployment is hard to gauge without proper surveys; some youth may just be taking time off after college • China has restricted access to several databases and reports that previously provided economic insights • Alternative measures like online job listings show openings plummeting 35% over last year, signaling ongoing labor market weakness