The urban unemployment rate was 4.04 percent in the third quarter of this year, down slightly from 4.05 percent in the second quarter, Xinhua reports.

The Chinese government-run news agency says 10.67 million jobs were created up to the end of September, exceeding the Ministry of Human Resources and Social Security target of 10 million new jobs for this year.

“Slow but reasonable economic growth, upgraded industrial structure, the government’s deepened reform and innovation drive, as well as pro-employment policies” caused the modest growth, according to ministry spokesperson Li Zhong.

Beijing has pledged to keep the mainland’s unemployment rate below 4.5 percent this year.