China’s November Urban Jobless Rate Jumps to 5.7%

What’s new: The surveyed unemployment rate among China’s urban workers expanded to 5.7% in November from 5.5% the previous month as spreading Covid outbreaks hit major cities.

The November figure was the highest since May, when Shanghai was in lockdown, according to data reported Thursday by the National Bureau of Statistics (NBS). The 31 major cities recorded a 6.7% jobless rate in November, only slightly lower than the peak of 6.9% in May.