THE surveyed average urban unemployment rate in China came in at 5.1 percent in the first half (H1) of 2024, down 0.2 percentage point from the same period last year, data from the National Bureau of Statistics (NBS) showed on Monday.
The country’s employment situation has maintained stability in the first half of 2024, a spokesman with the NBS noted on Monday.
“Economic growth, especially continuous recovery in the labor-intensive services sector provides solid support for steadily expanding employment. Policies to prioritize employment continue to produce results, while the boom of emerging industries and new business models give a boost to new types of jobs,” the spokesman said.
Since the second quarter, the country’s unemployment rate has stabilized at 5 percent, with wholesale and retail consumption, catering and hospitality, and transport and other service industries seeing gains in jobs created, the NBS data showed.
The artificial intelligence boom has led to significant increases in both job opportunities and compensation, as demand for tech talent remains high in China.
In the first half of the year, China’s national per capita disposable income of households reached 20,733 yuan ($2,855), marking a nominal growth of 5.4 percent year on year. Real growth was 5.3 percent after deducting price factors, the data showed.
Employment has been a priority for the policymakers. This year, China aims to create over 12 million jobs in urban areas and keep the surveyed urban unemployment rate at about 5.5 percent.
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