China’s urban unemployment rate dips at 5.1% YoY in H1 ’24

China’s urban unemployment rate averaged 5.1 per cent in the first half of 2024, down 0.2 per cent from a year earlier. In June, the rate was five per cent, unchanged from the previous month but down 0.2 per cent from June 2023.

The National Bureau of Statistics reported stable employment in the first half of 2024, with growth in service sectors and new job creation. Wholesale, retail, accommodation, transport, and information sectors saw significant job rises.

China aims to create 12 million urban jobs in 2024 and maintain a 5.5 per cent unemployment rate. Additionally, China’s GDP grew five per cent in the first half of 2024.

Attribution: Xinhua