China's employment situation was generally stable during the first two months of 2024, reports Xinhua, citing data from the National Bureau of Statistics (NBS). The surveyed urban unemployment rate on average in China stood at 5.3% in the first two months of 2024. In January, the country's surveyed urban unemployment rate reached 5.2%. In February, the rate came in at 5.3%, 0.1% higher from January due to the impact of the Chinese New Year holiday, which is in line with the seasonal trajectory of the job market, NBS spokesperson Liu Aihua said in a press conference. China's surveyed urban unemployment rate decreased by 0.3 percentage points respectively in January and February compared with the same period in 2023, Aihua added.

Aihua emphasised the improvement in the employment situation in big cities and the stability of the job market for rural migrant workers. Last month, the surveyed urban unemployment rate for 31 major Chinese cities stood at 5.1%, down 0.6% year on year. The figure for rural migrant workers hit 4.8%, dropping 1.2% on a yearly basis, according to the NBS spokesperson. In 2024, China aims to create over 12 million jobs in urban areas and keep the surveyed urban unemployment rate at about 5.5%.