FX.co ★ China Jobless Rate Hits 5-Month Low

China’s surveyed urban unemployment rate inched down to 5.1% in May 2026, beating both market expectations and April’s reading of 5.2%. This was the lowest level since December 2025. Among the locally registered labor force, the unemployment rate eased to 5.2% from 5.3% in April, while the rate for the migrant labor force declined to 4.9% from 5.0%. Within the migrant workforce, those with agricultural household registration also saw their unemployment rate edge down to 4.9% from 5.0%. Across 31 major cities, the surveyed urban unemployment rate similarly fell to 5.1% in May from 5.2% in the previous month. Meanwhile, employees of enterprises nationwide worked an average of 48.2 hours per week. Over the January–May period, the average surveyed urban unemployment rate was 5.2%.