(Yicai) Oct. 18 -- China's employment situation was overall stable in the first three quarters of this year, thanks to the support of economic growth, structural transformation, and demographic changes, according to the deputy director of the National Bureau of Statistics

"Since the beginning of this year, relevant departments have introduced numerous policies to stabilize employment, particularly to address the employment of university graduates," Sheng Laiyun said today. "Recently, a special document was issued to promote high-quality employment development, and various localities are accelerating its implementation."

The surveyed urban unemployment rate was 5.2 percent in the third quarter, unchanged from the second and up 0.1 percentage point from the first, showing overall stability, which is thanks to three factors, Sheng noted.

Firstly, the economy continues to grow, he said. Although China's gross domestic product expanded by 4.6 percent in the three months ended Sept. 30 from a year ago, compared with a 4.9 percent expansion in the same period last year, it increased by CNY1.29 trillion (USD181.9 billion), leading to higher demand for labor, he added.

Secondly, structural transformation, especially the development of the service sector, has increased employment flexibility, Sheng pointed out. The proportion of the service sector in GDP has been continuously growing, and its labor-intensive nature enables it to have a strong capacity for job absorption, he said.

Lastly, changes in the population structure, particularly the drop in the number of people aged 16 to 59 in the labor force, have affected the supply and demand dynamics in the labor market, leading to a relatively stable employment situation, Sheng noted.

Although there is pressure on total employment, the foundation supporting overall stability is solid, according to Sheng. However, structural issues in employment are still quite prominent, including the pressure on youth employment and the difficulty in recruiting for the manufacturing sector, he stressed.

In the future, it is necessary to continue promoting stable economic development, create more job opportunities, and prioritize addressing structural issues to achieve full employment and promote high-quality growth, Sheng pointed out.

Editor: Martin Kadiev