This study examines the impact and underlying mechanisms of financial technology (FinTech) on corporate labor demand by utilizing microdata from Chinese listed companies between 2011 and 2019. The results indicate that FinTech significantly enhances firms' overall labor demand and demand for skilled labor. Mechanistic analysis reveals that FinTech alleviates firms' financing constraints, increasing research and development (R&D) investments, which subsequently stimulates labor demand. Heterogeneity tests have revealed that the impact of FinTech on firms' labor demand varies depending on their stage of growth, ownership attributes, and level of financial development in the regions in which they are located. Furthermore, we reveal that FinTech can concurrently increase labor demand for workers with varying skill levels and educational backgrounds and increase the share of labor income. We provide new insights with theoretical and practical implications for studying the intrinsic linkages between financial and labor markets.