AI Data Insight
China's newly released Q3 2026 manufacturing PMI employment index is 48.4, sliding further from the previous 48.7 and remaining below the boom-or-bust line. Although the overall manufacturing sector returned to the expansion zone driven by peak season and external demand, weak orders from small and medium-sized enterprises (SMEs) have led to sluggish labor demand. Looking ahead, if domestic demand and the real estate sector fail to rebound substantially, the job market will continue to face significant pressure.