China Adds 10.52 Million Urban Jobs in First Nine Months of 2025

The headline job number is less informative than the composition behind it: reaching most of an annual target by September says little about whether those roles are formal, durable or concentrated in a few sectors. The 5.2% surveyed rate also captures only urban respondents, leaving rural and informal labour outside the frame. For RWA and crypto markets, Chinese labour data matter mostly as a read on domestic demand and the policy room left for stimulus, so whether the pace holds through year-end is the open question.