(MENAFN) According to official figures released on Tuesday, China's labor market demonstrated resilience in the first quarter of the year, with the creation of 3.03 million new urban jobs. This positive trend reflects the country's ongoing efforts to bolster employment opportunities and support economic growth.
In March, China's surveyed urban unemployment rate stood at 5.2 percent, indicating a relatively stable employment environment, as reported by the Ministry of Human Resources and Social Security. Despite ongoing challenges, such as structural adjustments and economic restructuring, the overall employment situation remained favorable.
Looking ahead, China has set ambitious targets for job creation in 2024. The country aims to exceed 12 million new urban jobs, underscoring its commitment to fostering robust employment growth and addressing labor market demands. Additionally, policymakers aim to maintain the surveyed urban jobless rate at around 5.5 percent for the year, highlighting efforts to achieve a balanced labor market and sustain economic stability.
These initiatives underscore China's proactive approach to labor market management and its determination to mitigate the impact of external uncertainties while promoting sustainable economic development. By prioritizing job creation and maintaining employment stability, China aims to support broader social and economic objectives, ensuring inclusive growth and prosperity for its citizens.
MENAFN23042024000045015839ID1108126388
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.