CHINA TOPIX

04/24/2024 11:59:03 pm

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Jobless Rate in China Drops in March

China's unemployment rate last month was at 5.17 percent, a little lower than the jobless rate in February, the National Development and Reform Commission (NDRC) said.

The latest jobless figure, which was released nearly seven months after the last unemployment data was made public, showed that China's economy is getting stably and that investments into the country are creating more jobs, said NDRC Secretary General Li Pumin.

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The last time that China's unemployment rate was announced was in September, when Premier Li Keqiang was interviewed by a financial publication. 

During the interview, the Chinese premier revealed that China's unemployment rate was at 5 percent for the first six months of 2013.

Since then, no other unemployment data was made public until Wednesday, when the NDRC released the figure.

Although no further elaboration was made, including how many jobs were generated in the first quarter of this year or what industries created the most jobs, the NDRC said the latest jobless rate showed that the country's economy remains vibrant and health.

In Hong Kong, the city's Census and Statistics Department said that employment rate remained unchanged at 3.1 percent in the first quarter of this year.

Matthew Cheung Kin-chung, Hong Kong's secretary for Labour and Welfare, said the jobless rate of 3.1 percent was a 16-year low for the city and shows how tight the labor market is.

Cheung said the jobless rate could stay at a relatively low level due to the largely stable economy of Hong Kong.

Taiwan, meanwhile, said its unemployment rate in March was at 4.03 percent, a 0.06 drop from the level registered in the February.

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