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China's real youth unemployment rate could actually be close to 50% - more than double the official rate
(www.businessinsider.com)
this post was submitted on 27 Jul 2023
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Unemployment generally only measures the percentage of people who are seeking work but unable to find it. Those who don’t work because they are otherwise taken care of aren’t usually counted. That’s actually the source of the discrepancy in the article so the headline is bs imo.
I’m all for reducing our working hours as a population though. More productivity should equal less work, not more GDP
You also have the issue of what to do with NEET young adults. What happens if a large class of people are created that don't have a way to contribute to the economy? How are they going to be able to interact with the economy as they are going to be given the lowest social status due to their lack of work?