China's employment has remained largely stable in the first half of 2023, with the average surveyed urban unemployment rate dropping down 0.2% from the first quarter to 5.3%, according to data from the National Bureau of Statistics (NBS) published in China News Service.

The data also showed that the unemployment rate for people aged 25 to 59 years old has stayed low, at 4.1% in June.

The overall urban unemployment rate for June remained flat month-on-month at 5.2%. At the same time, the surveyed unemployment rate for young people aged between 16 and 24 in June stood at 21.3%, recording a new high and a rise from the 20.8% rate recorded in May.

Fu Linghui, spokesperson of NBS, said, “The surveyed urban unemployment rate has been showing an overall downward trend as China's economic recovery has gained pace and policies aimed at stabilising employment started taking effect.”

Linghui warned that there will be more young graduates and young people entering the labour market in August, and the youth jobless data could edge up. Linghui also predicted that the jobless rate will go down as the summer graduation peak passes, and more young people find jobs. The number will gradually decline after August, as seen from past experiences, he said.

Li Changan, a professor at the Academy of China Open Economy Studies of the University of International Business and Economics, said that in terms of the relatively high youth unemployment, the seasonal factor has affected the reading, taking into account the current graduation season. “It is indeed normal for the youth unemployment rate to rise for the short term especially in the second quarter,” Changan said.

BBC News reported that the Chinese economy grew 0.8% in the three months to the end of June. Analysts say the weak pace of growth has raised expectations that authorities may soon announce new measures to boost the economy. Further data showed that the Chinese economy grew by 6.3% in the second quarter on an annual basis. It outstripped growth in the first quarter but missed analysts' expectations.