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China's urban unemployment rate stays below 4 percent for second straight quarter

Published 07/27/2017, 11:32 PM
Updated 07/27/2017, 11:40 PM
© Reuters. A man looks at job information at an employment fair beside a street in Zhengzhou

BEIJING (Reuters) - China's registered urban unemployment rate stayed below 4 percent for the second consecutive quarter as the world's No. 2 economy maintained a robust growth trajectory in 2017's first half.

China's urban registered unemployment rate was 3.95 percent at end-June, compared with 3.97 percent at end-March and 4.05 percent a year earlier, the Ministry of Human Resources and Social Security said on Friday.

The economy expanded a faster-than-expected 6.9 percent in the second quarter on the back of firmer exports and manufacturing, setting China on course to meet the government's 2017 growth target.

The ministry said 7.35 million new jobs were created in the first six months of 2017.

In March, Premier Li Keqiang said China added 13.14 million urban jobs in 2016 and aims to add another 11 million this year while keeping the registered unemployment rate below 4.5 percent.

However, structural problems in the labor market remain, ministry spokesman Lu Aihong told a media briefing in Beijing on Friday.

China's cabinet said in April that risks of mass unemployment in some regions and sectors have increased.

The government plans to further cut excess and inefficient capacity in its mining sector and "smokestack" industries this year as part of efforts to upgrade its economy and reduce pollution.

© Reuters. A man looks at job information at an employment fair beside a street in Zhengzhou

Resettlement of workers who lose jobs in the coal and steel sectors has been stable and orderly, the ministry said.

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