China's official, but highly doubted, urban unemployment rate rose to 6.0% in April, from 5.9% in March, according to figures released Friday by the National Bureau of Statistics.
Although monthly figures for the overall economy show some recovery, challenges remain, such as resuming work and the impact of the virus overseas, Liu said. "Right now, the trajectory of economic development still requires observation, but ... based on the results of policies for resuming work and production, we have the confidence, ability and basis for extending the momentum of recovery and improvement.
The average work-hours a week per employee also fell in April by 30 minutes to 44.3 hours, the data showed.from worker claims to a survey in 2018 in an effort to capture more of the job losses. The urban unemployment rate has hovered near 4% to 5% for the last 20 years. The continued struggles of small and medium-sized enterprises, which contribute to the majority of jobs and growth in China, adds further pressure to employment. Pang pointed to third-party business registration data that showed 460,000 companies closed in the first quarter, while the establishment of 3.2 million new Chinese companies during that time still marked a nearly 29% decrease from a year ago.
For millions of other people, making such job transitions may not be that easy. But the Chinese government is intent on doing its best to ensure employment, which is critical for political stability.
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