China’s jobless rate at lowest level in years

BEIJING - China has maintained overall stability in employment in the past five years, with urban registered and survey-based jobless rates kept at “a relatively low level”, a senior official said yesterday.

“It was a hard-won achievement against the backdrop of a slowing and restructuring economy and a large labor force”, said Minister of Human Resources and Social Security Yin Weimin at a press conference, on the sidelines of the 19th National Congress of the Communist Party of China.

The registered unemployment rate in Chinese cities stood at 3.95 percent at the end of September, the lowest in years, according to a statement from the ministry distributed at the press conference. The survey-based jobless rate for 31 major cities stood at 4.83 percent in September, the lowest level since 2012, according to figures from the National Bureau of Statistics. Yin attributed the achievement to the fact that the CPC has attached great importance to employment, as well as the roles of steady economic growth, reform and fiscal support.

“However, pressure remains as more than 15 million people in cities will be in need of jobs in each of the coming three years, with the number of new graduates from universities expected to exceed 8 million next year”, Yin said. He pledged to continue proactive support for employment, strengthen vocational training, encourage entrepreneurship and protect workers’ rights.

(Xinhuanet.com)