China’s employment situation generally stable in Jan-Feb

F.P. Report

BEIJING: The surveyed urban unemployment rate on average in China stood at 5.3 percent in the first two months of 2024, data from the National Bureau of Statistics (NBS) showed on Monday.

China’s employment situation was generally stable during the period, according to the NBS.

In January, the country’s surveyed urban unemployment rate reached 5.2 percent.
In February, the rate came in at 5.3 percent, 0.1 percentage points higher from January due to the impact of the Chinese New Year holiday, which is in line with the seasonal trajectory of the job market, NBS spokesperson Liu Aihua told a press conference.

China’s surveyed urban unemployment rate decreased by 0.3 percentage points respectively in January and February compared with the same period in 2023, Liu added.

She emphasized the improvement in the employment situation in big cities and the stability of the job market for rural migrant workers.

Last month, the surveyed urban unemployment rate for 31 major Chinese cities stood at 5.1 percent, down 0.6 percentage points year on year. The figure for rural migrant workers hit 4.8 percent, dropping 1.2 percentage points on a yearly basis, according to the NBS spokesperson.

In 2024, China aims to create over 12 million jobs in urban areas and keep the surveyed urban unemployment rate at about 5.5 percent.

Favorable factors for stable employment are accumulating for the next stage, Liu said, highlighting the rise in job opportunities in emerging industries and the strengthening of policy support for employment promotion.

“The further recovery of the economy, especially the service sector, and the accelerated transformation of growth drivers will boost employment growth in fields like digital economy, green economy and silver economy,” she said.

Localities and government agencies are giving greater priority to and strengthening fiscal, tax and financial support for employment, while also improving employment services for the youth, Liu said.

Noting that there are structural problems in the job market, she said continuous efforts from all sides are still needed to maintain employment stability. (APP)