China’s job market remains stable in first three quarters

BEIJING, Oct. 18 (Xinhua) — China’s job market remained generally stable in the first three quarters of 2024 as the surveyed urban unemployment rate dropped on a year-on-year basis, official data showed on Friday.
The surveyed urban unemployment rate on average stood at 5.1 percent in the first three quarters, down 0.2 percentage points from the same period last year, the National Bureau of Statistics (NBS) said in a statement.
In September, the surveyed urban unemployment rate in the country came in at 5.1 percent, down 0.2 percentage points from the previous month.
This year, Chinese authorities have stepped up efforts to stabilize employment, particularly the employment of college graduates, Sheng Laiyun, deputy head of the NBS, told a press conference.
While overall employment faces some pressure, the job market remains stable, Sheng noted, citing continued economic growth, the expanding service sector, and demographic changes as contributing factors.
Sheng also acknowledged that structural problems remained, urging further efforts in driving stable economic growth and creating more jobs to promote high-quality full employment. ■