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China – 3.42 million new jobs in Q1

26 April 2013

The number of people with new jobs in China rose by 3.42 million in the first quarter, said a spokesman for the Ministry of Human Resources and Social Security on Thursday. He also revealed that the registered urban unemployment rate stood at 4.1% in the quarter.

Spokesperson Yin Chengji added that employment remained “favourable” in the three months to March as urban unemployment was flat from the previous quarter. The government wants to keep the level of joblessness this year under 4.6%. According to Yin Chengji, China's urban jobless rate has remained at the same rate for eleven consecutive quarters.

Last week official government figures showed that China's economic growth slowed in the first three months of the year. Gross domestic product (GDP) rose by an annual 7.7% in the first quarter, down from 7.9% in the previous quarter. The results were below analysts’ expectations, sending stock markets down across the globe.



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