Surveyed urban unemployment rate in China stands at 5.1 percent in first half of 2024
Date
7/15/2024 3:40:37 AM
(MENAFN) The surveyed urban unemployment rate in China averaged 5.1 percent in the first half of 2024, reflecting a decrease of 0.2 percentage points compared to the same period last year, according to official data released on Monday. Specifically, in June, the unemployment rate held steady at 5 percent, remaining unchanged from May and down 0.2 percentage points from June 2023, as reported by the National Bureau of Statistics (NBS).
Despite the challenges facing the economy, China's employment situation has shown overall stability during the first six months of the year. This resilience can be attributed to a recovery in the labor-intensive service sector, proactive government pro-employment policies, and the creation of new job opportunities driven by emerging industries and innovative business models. Notably, the NBS indicated significant year-on-year increases in employment within key sectors, including wholesale and retail, accommodation and catering, transportation, and information transmission.
Looking ahead, China has set an ambitious goal for 2024, aiming to create over 12 million urban jobs while striving to keep the surveyed urban unemployment rate around 5.5 percent. This commitment reflects the government's focus on bolstering employment and supporting economic growth. Additionally, the NBS reported that the country's gross domestic product (GDP) grew by 5 percent year on year in the first half of 2024, further highlighting a positive economic trajectory amid ongoing efforts to enhance job creation and stabilize the labor market.
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