Employment kept stable amid downward pressure
A number of measures disclosed on Dec 5 are expected to keep China’s employment market stable and support the real economy amid increasing downward pressure. Four measures were released in a guideline by the State Council, China’s Cabinet, to promote stable employment, support company operations, business startups and professional training, and help laid-off workers. Fifty percent of the unemployment insurance paid the previous year will be refunded to company participants in the social security program if they don’t lay off any workers or keep redundancies to a minimum. Individuals and small businesses can apply for loans of up to 3 million yuan ($437,000; 384,000 euros; £343,000). In the next three years, 1 million young people will be trained and intern subsidies will be expanded to those ages 16 to 24 who have yet to find jobs.