Under open condition, foreign investment affects the employment of the host countries and mother country by quantity effect and structural effect, and the double-win of employment is possible in theory.The empirical research by using panel data during 2003—2016 shows that China’s OFDI promotes the employment growth along “the Belt and Road”, but the employment elasticity is not consistent in different regions, and China’s OFDI along B&R does not lead to domestic jobs output. The FDI from B&R can bring positive effect on China’s employment, but the effect is relatively weak. The employment effect of FDI relates to investment areas and B&R initiative, but has no direct relationship with the distribution of state-owned capital investment, central enterprises’ investment in infrastructure construction is conducive to the growth of employment along the B&R. China should strengthen the bilateral investment cooperation with the countries along the B&R, optimize capacity cooperation and investment structure according to different stages of development; and actively adjust the domestic industrial policy and foreign capital utilization strategy to enhance the employment promotion effect of the B&R investment in China.