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China / Unemployment on rise

China, with a 4.1 percent urban unemployment rate, is feeling the pressure from the country’s sluggish economy, as new job growth slows and more people become unemployed, a top official said today.

“The impact of economic slowdown on the job market is starting to emerge,” said Vice Minister of Human Resources and Social Security Yang Zhiming. The growth of newly added jobs in cities has been narrowing since April, while job vacancies have dropped with higher registered unemployed number, Yang said at a press conference on the sidelines of the 18th National Congress of the ruling Communist Party, which opened here on November 8 to elect a new Chinese leadership.

China’s job market is under great pressure this year as nearly 7 million college graduates have entered the job market. Reuters

The growth of newly added jobs in cities has been narrowing since April, while job vacancies have dropped with higher registered unemployed number, Yang said. “China will continue to face the problem of labour oversupply for a long time,” he said.

China’s job market is under great pressure this year as nearly 7 million college graduates have entered the job market, while migrant workers and unemployed urbanites still have difficulty getting full employment, said Yang…

Choosen excerpts by JMM from

via Slowdown effect: unemployment on rise in China amid recession | Firstpost.

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Discussion

3 thoughts on “China / Unemployment on rise

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