China’s Unemployment Rate Rises in March

China’s National Bureau of Statistics (NBS) reported today that the unemployment rate in China’s urban areas was 5.8% in March, down from 5.5% in February.

The rising unemployment rate reflects that the Chinese economy is affected by lockdown measures to contain the spread of COVID-19, particularly the lockdown of Shanghai, China’s financial center.

In the first quarter of 2022, the unemployment rate in China’s urban areas was 5.5%, and the number of new jobs was estimated at 2.85 million.

According to the NBS report, the unemployment rate in China’s 31 major cities was 6% in March.

The NBS calculates the urban unemployment rate based on the number of unemployed citizens. These citizens participated in urban employment surveys that included migrant workers.

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