The Ministry of Education recently issued a notice, deploying various regions and universities to seize the employment promotion period after the spring semester begins, with the theme of "Focusing on Expanding Jobs and Improving Services, Spring Action to Promote Employment," to carry out the 2025 Spring Employment Promotion Action for graduates of 2025 from March to April 2025.

The notice proposes to accelerate the recruitment of policy-based positions and strive to recruit early and more.

Since the launch of the Spring Wind Action in 2025, regions have continuously organized a variety of recruitment service activities. The Ministry of Human Resources and Social Security released data on the 13th, stating that as of March 5, a total of 0.041 million various recruitment activities have been held nationwide, and 31 million job positions have been posted; 0.029 million special vehicles, special trains, and charter flights have been dispatched for workers, transporting 0.91 million laborers.

In January and February, the average urban survey unemployment rate nationwide was 5.3%. In February, the urban survey unemployment rate was 5.4%, an increase of 0.2 percentage points from the previous month.

The survey unemployment rate for local registered labor was 5.6%; the survey unemployment rate for migrant registered labor was 5.0%, among which the survey unemployment rate for migrant agricultural registered labor was 5.1%.

The survey unemployment rate in 31 major cities was 5.2%. The average weekly working hours for employed persons nationwide was 47.1 hours.

People's Daily Commentary: At the job fair, some company leaders stated that since the beginning of this year, there has been a noticeable increase in Orders and a large labor shortage. The emergence and development of XINXINGCHANYE, along with the upgrading and integration of traditional industries, are cultivating new occupational sequences and promoting the formation of new employment growth points. The whole year depends on spring. Sustaining warmth in the employment market and providing ample human resources for economic growth requires concerted efforts from all parties.

Guosen Securities released a Research Report suggesting that based on the strong demand backdrop, the income of leading companies in the human resources sector faced varying degrees of growth pressure, and apart from the online recruitment niche, the sector is labor-intensive, resulting in further pressure on profits under income constraints. Thus, during the same period, the stock prices of leading human resource companies also faced downward pressure.

SWHY released a Research Report stating that AI is deeply integrated into the human resources industry, bringing about many changes. In response to the shortage of AI talents, AI agents can alleviate the pressure. In recruitment management, leveraging technologies like AIGC and NLP achieves intelligent processes from job JD generation to interview assessments. Meanwhile, AI helps companies build a complete industry ecosystem, realizing digital and intelligent management of human resources, reducing costs, and enhancing efficiency.

Related Hong Kong stocks of recruiting companies:

Kanzhun-W (02076): On March 11, Kanzhun-W released its annual performance announcement for 2024, along with unaudited financial performance for the fourth quarter and the entire year 2024. According to the Earnings Reports, Kanzhun's income for 2024 is expected to be 7.356 billion yuan, an increase of 23.6%; excluding income tax, Kanzhun is expected to net 1.567 billion yuan, an increase of 42.6%. Online recruitment service revenue grew by 15.2% year-on-year to 1.804 billion yuan, with the blue-collar sector's revenue share further increasing to 38%, confirming the company's deepening penetration in manufacturing, logistics, and other fields. Additionally, revenue from other services (mainly paid value-added services for job seekers) in the fourth quarter grew by 44.4% year-on-year to 19.5 million yuan, demonstrating a gradual release of diversified monetization capabilities. Some of Kanzhun's top investors include JP Morgan, UBS, Capital Research Global Investors, Blackrock, and CPPIB, among other well-known international long-term funds, technology funds, sovereign wealth funds, and institutional retirement funds. The Kanzhun APP has already integrated DeepSeek-R1 and is cautiously conducting gray testing in some scenarios within the app. At the same time, the product also uses the self-developed model 'Nanbeige' to provide services.

TONGDAO LIEPIN (06100): As of September 30, 2024, revenue primarily from providing talent acquisition and other human resources services to corporate clients, as well as talent development services to individual users, amounted to 0.5027 billion yuan, a decrease of 10% compared to 0.5589 billion yuan in the same period ending September 30, 2023. The company's net profit attributable to equity shareholders for the three months ended September 30, 2024, was 46 million yuan, an increase of 43.6% compared to 32 million yuan in the same period ending September 30, 2023. Recently, TONGDAO LIEPIN Group's brand, LIEPIN, announced a milestone upgrade: the enterprise version of LIEPIN B-end products has been officially upgraded to the AI version, launching a new AI account product for enterprises. Additionally, four companies in Shanghai, including Shanghai TONGDAO LIEPIN Technology Co., Ltd., have obtained pilot approval for expanded value-added telecommunications services and can engage in Internet access, information services, and other value-added telecommunications services.

RENRUI HR (06919): Announced that for the fiscal year ending December 31, 2024, revenue is expected to increase compared to the fiscal year ending December 31, 2023, mainly due to the increase in the number of comprehensive flexible employment staff in 2024. As of December 31, 2024, the number of information technology and digital talents is expected to grow by over 20% year-on-year, while the number of general service outsourcing staff is expected to grow by over 10% year-on-year.