China's employment situation remains steady

China's employment situation remained stable in April, with the urban surveyed unemployment rate dropping to 5.1 percent from 5.2 percent in March, signaling the job market’s resilience against external uncertainties and that China’s pro-growth policies are effectively stabilizing enterprises and employment, a Chinese expert said.

Data from the National Bureau of Statistics (NBS) on Monday shows that China’s urban surveyed unemployment rate stood at 5.2 percent from January to April, remaining unchanged year-on-year. In April, the national urban surveyed unemployment rate was 5.1 percent, edging down by 0.1 percentage points from the previous month.

Li Changan, a professor at the Academy of China Open Economy Studies at the University of International Business and Economics, told the Global Times on Monday that the surveyed unemployment rate of 5.1 percent in April should be considered better than expected.

“This suggests that the external uncertainty has not had a substantive impact on China's employment situation, which is a positive signal. On one hand, this indicates that China’s pro-growth measures have played a significant role, particularly in stabilizing enterprises and employment,” Li said.

Li said that in April, a series of policies was intensively introduced, aiming to stabilize employment by safeguarding enterprises. These policies have had a positive effect on employment stabilization.

Relevant authorities are fast-tracking the rollout of comprehensive measures to support business operations and ensure job stability. China will extend key unemployment insurance policies through 2025 to help companies retain jobs and support workers in enhancing their skills, authorities announced last month, the Xinhua News Agency reported.

Until the end of 2025, companies that do not lay off employees or minimize layoffs will continue to receive refunds of a certain percentage of unemployment insurance premiums paid in the previous year, according to a circular, jointly issued by the Ministry of Human Resources and Social Security, the Ministry of Finance, and the State Taxation Administration as part of broader efforts to help enterprises maintain stable employment.

These measures also ensure continued provision of basic living allowances, including unemployment benefits, basic medical insurance coverage, and support for older unemployed individuals.

China has set a target of maintaining the surveyed urban unemployment rate at around 5.5 percent in 2025, while aiming to create over 12 million new urban jobs this year, per the Xinhua report.