For young people today, though, the outlook is much gloomier. The economy is struggling and they are feeling the worst of it. Unemployment among urban Chinese aged 16 to 24 has been running at over 20% for months, about double the age group's pre-pandemic level (see chart 1). The official job numbers for this group are so stubbornly awful that China recently stopped publishing them altogether. Higher education is no longer a reliable ladder to a solid career. Our calculations show that in 2021 over 70% of those unemployed youngsters were graduates. Along with scarce jobs, they face sky-high property prices. Their modest dreams of finding work, buying a house and supporting a family seem increasingly out of reach