Unemployment in China
China - Unemployment
Growth slowed markedly to 4.9% year-on-year in Q3, below market expectations. Covid-19 flare-ups in July–August hit private spending and caused supply disruptions, while flooding in July further weighed on momentum. Industrial output was likely held back towards the end of the quarter by abrupt cutbacks in electricity generation, as local governments rushed to meet Beijing’s emissions standards, while tougher regulations weighed on the property sector throughout the period. The power crunch is likely dampening momentum at the outset of Q4, although authorities have recently pushed through reforms to ease the pain, including moving towards a more market-based pricing system. Financial sector turmoil further clouds the horizon: Local property giant Evergrande has missed a series of bond payments in recent weeks, with other Chinese developers also at risk amid tighter financial conditions.China - Unemployment Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Unemployment Rate | 4.1 | 4.0 | 3.9 | 3.8 | 3.6 |
China Unemployment Chart
Source: National Bureau of Statistics of China.
China Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 3.17 | -0.40 % | Dec 31 |
| Exchange Rate | 6.96 | -0.19 % | Jan 01 |
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Economic News
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China: Industrial output records lowest growth since March 2020 in September
October 18, 2021
Industrial output grew 3.1% compared to the same month of the previous year in September, which followed August's 5.3% increase.
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China: Nominal fixed investment records slowest expansion since December 2020 in September
October 18, 2021
Nominal urban fixed asset investment grew 7.3% in year-to-date terms in September, which was a deterioration from August's 8.9% increase.
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China: Retail sales growth gains steam in September
October 18, 2021
Retail sales expanded 4.4% year-on-year in September (August: +2.5% yoy).
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China: Merchandise exports increase in September
October 13, 2021
Merchandise exports soared 28.1% year-on-year in September, on the heels of August’s 25.6% upturn and overshooting market expectations.
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China: Credit growth eases further in September
October 13, 2021
In September, Chinese banks distributed CNY 1.7 trillion (roughly USD 260 billion) in new yuan loans, up from August’s 1.2 trillion figure. Annual growth in M2 money supply edged up from 8.2% in August to 8.3% in September, while annual growth in the stock of total social financing (TSF)—a broader measure of credit and liquidity in the economy that includes loans, bonds and other non-traditional instruments—was down from 10.3% to 10.0%.
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