China under increasing pressure to maintain ‘stable employment’ environment amid US trade war
- China’s official urban jobless rate was 5.2 per cent at the end of August, 0.1 percentage point lower than July, and well below the target of 5.5 per cent
- The trade war with the United States and China’s sluggish economy have hit the jobs market, with ‘stabilising’ employment a top priority for Beijing
China is under more pressure than ever to maintain a “stable employment” environment as the trade war with the United States and a sluggish economy have hit the country’s jobs market, the top economic planning agency said on Wednesday.
The Chinese government has always argued that the job situation in the world’s second largest economy is stable, citing the official indicators compiled by the labour ministry and the statistics agency, although evidence is emerging that the unemployment situation, especially among migrant workers who are often not covered by official statistics, is getting worse.
According to data released by the National Bureau of Statistics on Monday, China’s surveyed urban jobless rate was 5.2 per cent at the end of August, which was 0.1 percentage point lower than the end of July, and well below the government’s target of 5.5 per cent.
We noticed that due to China-US economic and trade frictions and downward pressure on the economy, structural problems in employment are rising, and the demand for recruitment in some industries has declined
Beijing has listed “stabilising” employment as the top priority, and the government has rolled out a slew of policies to aid employment, including support for small, private enterprises, which create most of the urban jobs.
