Em­ploy­ment kept sta­ble amid down­ward pres­sure

China Daily (USA) - - CHINA - By HU YONGQI huy­[email protected]­nadaily.com.cn

A slew of mea­sures dis­closed on Wed­nes­day is 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 scheme 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). In the next three years, 1 mil­lion young peo­ple will be trained and in­tern sub­si­dies will be ex­panded to those aged 16 to 24 yet to find jobs.

Em­ploy­ment has been ba­si­cally sta­ble this year, but some com­pa­nies and sec­tors are fac­ing chal­lenges as do­mes­tic and in­ter­na­tional un­cer­tain­ties are ris­ing, Zhang Yizhen, vice-min­is­ter of hu­man re­sources and so­cial se­cu­rity, told a pol­icy brief­ing hosted by the State Coun­cil In­for­ma­tion Of­fice on Wed­nes­day. Pol­icy sup­port is needed due to the pres­sure of a large num­ber of job­seek­ers and peo­ple’s de­sire to find high-qual­ity jobs, she said.

China-US trade fric­tions have af­fected the Chi­nese economy, in­clud­ing em­ploy­ment, Zhang said. How­ever, key groups have seen sta­ble em­ploy­ment sit­u­a­tions, with most col­lege grad­u­ates and mi­grant work­ers able to find jobs, she said.

Mean­while, 1.49 mil­lion peo­ple who had dif­fi­cul­ties find­ing jobs were fi­nally em­ployed, 20,000 more than the same pe­riod in 2017, the vice-min­is­ter said. She said sur­veys found that job va­can­cies still out­num­bered ap­pli­cants in the third quar­ter in 100 ma­jor cities.

In the first 10 months of the year, new jobs cre­ated in ur­ban ar­eas hit 12 mil­lion, 90,000 more than the same pe­riod last year, said the Min­istry of Hu­man Re­sources and So­cial Se­cu­rity.

How­ever, a re­port re­leased by the re­cruit­ment web­site zhaopin.com and the China In­sti­tute for Em­ploy­ment Re­search said that re­cruit­ment de­mand from com­pa­nies de­clined in the third quar­ter. The num­ber of avail­able po­si­tions dropped by 27 per­cent from the same pe­riod last year, and the num­ber of ap­pli­cants went down by 9.8 per­cent, the re­port said. It demon­strated the ne­ces­sity to pro­vide fur­ther pol­icy sup­port for the em­ploy­ment mar­ket.

Em­ploy­ment needs joint ef­forts by gov­ern­ment at all lev­els, mar­ket en­ti­ties and the pub­lic to cre­ate a good en­vi­ron­ment, Zhang said. To achieve the goals set in the guide­line, the Min­istry of Hu­man Re­sources and So­cial Se­cu­rity and two other de­part­ments have re­leased two no­tices on pro­vid­ing all-around em­ploy­ment ser­vices and stim­u­lus plans.

In the mean­time, more funds will go to aid. Di­verse chan­nels, such as em­ploy­ment sub­si­dies, the un­em­ploy­ment in­sur­ance fund, and the ed­u­ca­tional fund for em­ploy­ees, will be used to help sta­bi­lize the em­ploy­ment mar­ket, the vice-min­is­ter said.

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