China's Urban Job Creation Exceeds Half of 2025 Target in H1

China added 6.95 million new urban jobs in H1 2025, achieving 58% of its annual target. The surveyed urban unemployment rate in June remained at 5%, flat compared to last year. The country aims to create over 12 million new urban jobs in 2025, with a target unemployment rate of around 5.5%.

China's job market demonstrated resilience in the first half of 2025, with the country creating 6.95 million new urban jobs, according to the human resources ministry [1]. This achievement represents 58% of the country's annual job creation target, highlighting a stable employment situation despite broader economic challenges.

The urban unemployment rate in June remained at 5%, unchanged from the previous year, indicating a relatively stable job market. The jobless rate for 16- to 24-year-olds dropped to a 12-month low of 14.5% in June, while the unemployment rate for 25- to 29-year-olds decreased to 6.7% [2]. These improvements suggest a positive trend in youth employment, a critical factor for the country's long-term economic health.

China aims to create over 12 million new urban jobs in 2025, with a target unemployment rate of around 5.5%. The current data suggests that the country is on track to meet these targets, although the ongoing challenges in the global economy and regional market conditions may pose additional hurdles.

Schindler Holding AG, a leading elevator and escalator manufacturer, also reported strong performance in the first half of 2025, despite significant foreign exchange headwinds and regional market challenges [3]. The company's order intake and revenue growth, particularly in its modernization segment, indicate a robust demand for service and modernization services globally.

The combination of job creation and stable unemployment rates underscores China's commitment to maintaining a strong job market, which is crucial for economic growth and social stability. As the country continues to navigate global market uncertainties, the resilience of its job market remains a key indicator of its economic health.

References:
[1] https://www.reuters.com/markets/asia/almost-7-million-urban-jobs-created-china-h1-ministry-says-2025-07-22/
[2] https://www.reuters.com/markets/asia/china-youth-jobless-rate-drops-12-month-low-june-2025-07-17/
[3] https://www.investing.com/news/company-news/schindler-h1-2025-presentation-margin-expansion-continues-despite-fx-headwinds-93CH-4140992