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13 million urban Chinese to be employed in 2013
December 26, 2013, 6:19 am

The registered urban unemployment rate is expected to be around 4.1 per cent this year [Xinhua]

The registered urban unemployment rate is expected to be around 4.1 per cent this year [Xinhua]

China’s new urban employment figure is expected to reach 13 million by the end of 2013, the country’s human resource minister said on Thursday.

More than 5.4 million urban people who were laid off will be reemployed by the end of 2013, said Yin Weimin, minister of the Human Resources and Social Security Ministry at a national work conference.

The registered urban unemployment rate is expected to be around 4.1 per cent this year, Yin said.

China will need to achieve a “golden” balance between structural adjustment and growth, Premier Li Keqiang had said last month.

“As a big country with 1.3 billion people, there is no certain pace of development that can cope with so many difficulties and problems, especially preserving jobs.”

The Chinese Premier warned a slowdown in economic growth would adversely hit job creation.

With a global slack in demand, China’s economy is set to grow at its slowest pace in 23 years in 2013.

Growth is likely to stand at 7.6 per cent this year, slightly down from 7.7 per cent in 2012, said a Chinese Cabinet report on Wednesday.

 

Source: Agencies

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