China Unveils Urban Survey Unemployment Rate
BEIJING--China unveiled its official survey of unemployment reports, an addition to its list economic indicators that should help policy makers and analysts better gauge the state of the economy.
Starting this month, China will release its survey unemployment rate for large cities on a monthly basis, the National Bureau of Statistics said Tuesday.
The national urban survey unemployment rate stood at 5.1% at the end of March, slightly higher than the 5.0% recorded for the first two months of the year, the statistics bureau said.
March's rate shows that the country still faces large employment pressures, due to rising trade protectionism and uncertainties about the global economy, said Ning Jizhe, head of the statistics bureau.
Still, the door-to-door surveys, based on a sample of about 120,000 households, indicate that the country's unemployment rate is below a global average rate of about 5.7%, Mr. Ning said in a statement.
The survey unemployment rate has been hovering around 5% in recent years, with variations across different regions of the country, according to sporadic releases of survey results. The unemployment rate in northeastern Liaoning province rose above 7% when it was in recession in 2016, officials have said.
Critics of China's employment data have pointed out that the country's unemployment data tend to be underestimated due to hidden unemployment, especially at state-owned companies.
Write to Liyan Qi at [email protected]