China's record college graduates face final test in shrinking job market

China's record class of 2024 college graduates -- 11.8 million -- are entering the weakest job market the country has endured in years as the former growth sectors of internet companies, education employers and real estate developers reduce their payrolls.

Amid the shifting economic landscape -- in which emerging industries such as new energy vehicles, semiconductors and carbon neutrality have yet to pick up the slack -- the unemployment rate for 16- to 24-year-olds in urban areas jumped to 18.8% in August, the highest this year.