This is the first paper which takes advantage of the 498 four-digit industrial data to make a research on the impact of exchange rate adjustment on Chinese manufacturing employment. On the basis of the extension of the theoretical analysis framework concerning the impact of the exchange rate adjustment on employment market, we make a research on the influence channels of RMB real exchange rate adjustment on Chinese manufacturing employment market from the perspective of factor intensity. We construct the RMB industrial-level real exchange rate index by merging the industrial enterprise data from 1998 to 2007 and custom trade data and then find that the adjustment of RMB real exchange rate will make an obvious and significant impact on Chinese urban employment market. Also, we reach a conclusion that the estimation of the influence of the real exchange rate adjustment for primary products and labor-intensive industry is more obvious than the technology-intensive industry and the employment elasticity of primary industry, labor-intensive industry and technology-intensive is 0.423, 0.327 and 0.309 respectively. The net employment level of foreign investment industry is more sensitive than private industry when facing the real exchange rate adjustment.