China published youth unemployment data Wednesday for the first time since the jobless rate hit a record high in June last year, using a new method that showed an apparent improvement.
That’s a fair point. Here in Germany the government has infamously reframed the term as well about two decades ago and we’re all worse off because of it. It’s for that reason (among others) that I think the situation in China is very dire and not easened retroactively because ‘the numbers before were wrong’. Because that’s exactly what the chinese government is trying to sell here.
Tbf the US has redefined the unemployment rate many times when convenient as well. There was a good planet money podcast about it years ago.
That’s a fair point. Here in Germany the government has infamously reframed the term as well about two decades ago and we’re all worse off because of it. It’s for that reason (among others) that I think the situation in China is very dire and not easened retroactively because ‘the numbers before were wrong’. Because that’s exactly what the chinese government is trying to sell here.