China's unemployment rate falls by 0.4 pps to 5.2% in 2023 from 2022

Source:China Sport ShowRelease time:22-Jan-2024Clicks:

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China’s average urban unemployment rate was 5.2 per cent last year—down by 0.4 percentage points from 2022, according to data from the National Bureau of Statistics (NBS), which recently said the employment situation in the country is generally stable.

The urban unemployment rate stood at 5.1 per cent in December last year; the figure for 31 major Chinese cities stood at 5 per cent for the entire year.

The total number of rural migrant workers grew by 1.91 million from a year earlier to 297.53 million last year, with their average monthly income up by 3.6 per cent year on year (YoY) to 4,780 yuan ($672), a state-controlled media outlet reported.

The surveyed unemployment rates of the 16-24, 25-29 and 30-59 age groups, excluding students, were 14.9 per cent, 6.1 per cent and 3.9 per cent respectively.

The number of newly created urban jobs between January and November 2023 rose to 11.8 million, up some 350,000 YoY.

Despite pressure on the job market this year, the employment climate is expected to remain stable as favourable conditions are building up, a senior government official said.