The Chinese government today said it has created 12.02 million new jobs in the first 11 months of this year surpassing the goal of 9 million.
The urban registered unemployment rate stood at 4.1 per cent at the end of September, below the annual target of 4.6 per cent, the Ministry of Human Resources and Social Security (MHRSS) said.
The employment situation has been better than expected this year amid the backdrop of slowing global economic recovery and downward pressures weighing on the domestic economy, state-run Xinhua news agency quoted Human Resources Minister Yin Weimin as saying.
Meanwhile, massive layoffs have also been rare this year, as a continuous labour shortage left employers more prudent about staff cuts, Zhou added.
Yin said the focus of next year’s work will still be employment for college graduates, an expanding population that has hit 6.8 million this year.
Choosen excerpts by Job Market Monitor from