China Unemployment Rate

China’s surveyed unemployment rate fell to 5% in October 2024, compared to market estimates and September’s reading of 5.1%. This marks the lowest reading in four months. The jobless rate for local registered residents decreased by 0.1 percentage points to 5.1%, with non-local registrants at 4.8%, and non-local agricultural registrants at 4.7%. In 31 major cities, the urban unemployment rate stood at 5%. On average, employees in enterprises worked 48.6 hours per week. From January to October, the average surveyed jobless rate was 5.1%, 0.2 percentage points lower than the same period last year. In October 2024, the surveyed unemployment rate was again 5%.