China has seen a slight diminution in its urban unemployment levels as its economy gradually recuperates from the impacts of the COVID-19 outbreak.
Official data indicates that China’s nationwide urban unemployment rate stood at 5.9% in May, for a decline of 0.1 percentage points compared to the previous month.
China provided 55 billion yuan in work stabilisation and return subsidies to 398 million enterprises during the period from January to May, while as of the end of April the Chinese central government had pushed through 340.2 billion yuan in social welfare reductions.
China Uses State-owned Enterprises to Create over 1 Million New Jobs Post-COVID-19
China Added 13.52 Million Urban Jobs in 2019
China Could Automate Away 2.5 Million Customer Service Jobs, Banks Amongst Leading AI Adopters