A total of 11.9 million new urban jobs were created in the first 10 months of this year, which means that China has achieved its annual goal of creating more than 11 million new urban jobs two months ahead of schedule, according to data released by the Ministry of Human Resources and Social Security.

From January to October, 11.9 million new urban jobs were created, ahead of schedule for the year's target of producing more than 11 million new urban jobs. The surveyed urban unemployment rate stood at 5.1 percent in October, down 0.1 percentage points from the previous month and below the target of 5.5 percent, according to statistics.

The unemployment rate for college graduates aged 20 to 24 with a college degree or above fell by more than 1 percentage point in October. From January to October, 4.5 million unemployed people in urban areas were reemployed, and 1.5 million people with difficulty in finding jobs were employed, 180,000 more than the target for the year.

"On the whole, against the background of increasing downward pressure on the economy, we have achieved the target of creating new jobs for the year two months ahead of schedule, and the surveyed urban unemployment rate has continued to fall. This is a hard-won achievement. We can say that the employment situation is stable and promising." said Zhang Libin, a researcher from the Chinese Academy of Labour and Social Security.

Zhang also pointed out that the current employment situation is also undergoing significant changes, especially the continuous acceleration in the development of new business forms and new models, which contributes more to employment and promotes the proportion of flexible employment.