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Economy

China's unemployment rate drops to 5.2 pct in 2023

January 17, 2024


Abstract : The surveyed urban unemployment rate on average in China stood at 5.2 percent in 2023, down 0.4 percentage points from 2022, official data showed Wednesday.

BEIJING, Jan. 17 (Xinhua) -- The surveyed urban unemployment rate on average in China stood at 5.2 percent in 2023, down 0.4 percentage points from 2022, official data showed Wednesday.

The employment situation is generally stable, the National Bureau of Statistics (NBS) said in a report.

The surveyed urban unemployment rate in the country came in at 5.1 percent in December 2023, the NBS said, adding that the figure for 31 major Chinese cities stood at 5 percent for the whole year.

The total number of rural migrant workers grew by 1.91 million from a year earlier to 297.53 million in 2023, with their average monthly income up 3.6 percent year on year to 4,780 yuan (about 672 U.S. dollars).

The surveyed unemployment rate of the 16-24, 25-29 and 30-59 age groups of the workforce excluding students was 14.9 percent, 6.1 percent and 3.9 percent, respectively.

Kang Yi, head of the NBS, told a press conference that the bureau has excluded students when surveying unemployment in the 16-24 age group and newly created the 25-29 age group deducting students to reflect the unemployment situation among young people "more accurately and completely."

He added that students accounted for more than 60 percent of urban residents at the age of 16 to 24 last year.

The unemployment data for the newly added 25-29 age group can indicate the employment climate for youngsters in years after graduation, Kang said.

The NBS will release the unemployment rate among in 16-24, 25-29 and 30-59 age groups of the workforce excluding students on a monthly basis.

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