Urban jobless rate reflects stable employment market

Updated 2018-04-18 14:15:01 China Daily

China's survey-based urban unemployment rate, released for the first time on Tuesday, stood within the target range, reflecting a relatively stable job market amid economic recovery, data showed.

In March, the national surveyed unemployment rate stood at 5.1 percent, which is slightly higher than the 5-percent level registered in both January and February, according to the National Bureau of Statistics.

The data come after the central government set a target for the indicator for the first time in the Government Work Report published during the first session of the 13th National People's Congress in March.

The goal is to keep the monthly rate below 5.5 percent, according to the government report.

Unlike the registered unemployment rate, the surveyed rate, calculated based on a sample of around 120,000 households, takes into account rural migrant workers and those who have not yet been registered as unemployed at their local employment agency and hence were excluded from the old indicators.

Prior to this month, the central government used to mainly look at indicators including the registered urban unemployment rate and the new urban employment rate.

Adding a new gauge reflects that the central government has put strong emphasis on the labor market as the nation steers toward high-quality growth, said Ning Jizhe, head of the NBS, in a note on Tuesday.

He said bringing China's definitions of employment rate and unemployment rate to match with those of the International Labor Organization makes it easier to make comparisons across economies.

Latest ILO data showed that the world's average unemployment rate was 5.7 percent.

The survey-based jobless indicator will provide more accurate and timely information to better analyze China's labor market, according to Zeng Xiangquan, an economics professor with Renmin University of China in Beijing.

In the first quarter, 3.3 million new urban jobs were created, including 1.54 million in March alone, according to data released by the National Development and Reform Commission, the country's top economic regulator, on Tuesday.

Looking ahead, sound economic foundation is expected to stabilize the healthy trend of the labor market, providing stronger momentum to growth as trade protectionism and economic uncertainties rise, according to the commission.

Zhao Ping, an expert with the China Council for the Promotion of International Trade Academy, said she expected consumption to continue to play a vital role in supporting growth.

China's economy grew 6.8 percent in the first quarter, according to NBS data.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58October 19 2018 20:52:40

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16October 19 2018 20:52:40

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18October 19 2018 20:52:40

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords