China job market improves marginally in June, dashing hopes of V-shaped rebound even as economy returns to growth

China’s job market, even by official figures, showed only marginal improvement in June with one out of five people in their early 20s being unemployed, despite a sharp second quarter rebound in gross domestic output from a 6.8 per cent contraction in the first three months of the year.The official surveyed unemployment rate in urban areas dropped to 5.7 per cent at the end of June, from a reading of 5.9 per cent at the end of May and a peak of 6.2 per cent at the end of February, according to…

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