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Unemployment in China stabilized at 5.2 percent during the first eight months of 2026, despite supply chain disruptions and the repercussions of the US-Iran war.
This was according to a statement issued by the National Bureau of Statistics on Tuesday, coinciding with the ongoing oil price shock and its impact on global markets.
The bureau stated that "China's employment market remained generally stable."
It added that the average unemployment rate based on the survey in urban areas was 5.2 percent during the first eight months of the current year.
It explained that the percentage remained within the annual target set by the country.
The rate did not change compared to the first seven months of the current year, and it remained at the same level as the same period last year.
During August alone, the unemployment rate based on the survey in urban areas was 5.3 percent.
This represents an increase of 0.1 percentage points compared to July.
China has set a target for the unemployment rate at about 5.5 percent during 2026.
It also plans to create more than 12 million new job opportunities in urban areas during the year.
The labor market data comes as China faces economic repercussions of the war on Iran and supply chain disruptions.
China's economic growth slowed to 4.3 percent during the second quarter of the current year, compared to 5 percent in the first quarter of the same year.
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