Plan for stable em­ploy­ment in 2019

Cape Times - - WORLD -

CHINA will roll out a se­ries of mea­sures to main­tain stable em­ploy­ment this year, the of­fi­cial Xin­hua news agency re­ported yes­ter­day, cit­ing the coun­try’s hu­man re­sources min­istry.

China is grap­pling with the im­pact of a slow­ing econ­omy amid a dam­ag­ing trade dis­pute with the US, its largest trad­ing part­ner, and sources have said that it plans to set a lower eco­nomic growth tar­get of 6 to 6.5 per­cent in 2019, com­pared with “around” 6.5 per­cent in 2018.

In or­der to en­sure em­ploy­ment, the Chi­nese gov­ern­ment will re­duce the bur­den on com­pa­nies, of­fi­cials from the Min­istry of Hu­man Re­sources and So­cial Se­cu­rity said, ac­cord­ing to Xin­hua, adding that re­search on plans to cut their so­cial in­sur­ance premium rate would be ac­cel­er­ated.

“En­ter­prises with fewer or zero lay­offs can take half of the pre­vi­ous year’s un­em­ploy­ment in­sur­ance premium back,” Xin­hua quoted an un­named se­nior min­istry of­fi­cial as say­ing, re­it­er­at­ing a pol­icy that was flagged by the State Coun­cil, China’s cab­i­net, in De­cem­ber.

Xin­hua said China’s ur­ban un­em­ploy­ment rate was at 3.8 per­cent by the end of 2018, with 13.61 mil­lion new jobs cre­ated in ur­ban ar­eas last year, up 100 000 from 2017.

| Reuters

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