China adds 3.34m jobs in Q1, jobless rate falls

2017-04-25
Xinhua

BEIJING — China’s quarterly job report delivered a positive message on April 25 as 3.34 million new jobs were created in the first quarter and the unemployment rate fell to 3.97 percent.

The number of new jobs was 160,000 higher than that in the same period last year, and the unemployment rate was down 0.07 percentage points from a year earlier and 0.05 percentage points lower compared with the previous quarter, official data showed.

“China’s job market posted a strong start this year and remained stable in the first quarter,” said Lu Aihong, spokesperson of the Ministry of Human Resources and Social Security, at a news conference.

Economists said the lower jobless rate suggested a healthier picture of Chinese economy.

From January to March, job vacancies rose 7.8 percent year on year while applicants increased 2.1 percent, according to data with the ministry.

“The need for workers is particularly pressing in the manufacturing sector,” said Zhang Yizhen, vice minister of human resources and social security.

China’s manufacturing sector in March stayed above the boom-bust mark for the eighth month in a row, reinforcing the message conveyed by increased industrial business profits, and shedding light on economic restructuring progress.