China’s job market still under pressure, despite recent growth

China’s job market still under pressure, despite recent growth

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The job market in China showed some signs of improvement in the first 6 months of 2013 despite economic struggles, however, officials warned on Thursday, July 25, 2013 that employment pressure still remains high. Spokesman for the Ministry of Human Resources and Social Security, Yin Chengji said at a recent press conference that more jobs were created in the country in the first 6 months of 2013, compared to the same period in 2012.

China Tough Job Market

Chengji went on to say that handling challenges regarding employment still remains a difficult task. The ministry presented figures which showed that the country added 7.25 million jobs in the first half of 2013, an increase of 310,000 jobs year on year. On the other hand, the urban unemployment rate remained at 4.1 percent at the end of the second quarter of 2013.

The Chinese government is aiming to create at least 9 million jobs in 2013, while the full-year unemployment rate should reach less than 4.6 percent. Chengji stated that the service sector and businesses related to Internet in particular have played a part in absorbing new labor. He also went on to say that the east China’s employment situation improved since May 2013, which resulted in a rebound in monthly figures, central China remained stable in the first half of 2013 and the number of newly-added jobs in underdeveloped west China increased quickly.

In order to help more people find jobs, the government will put additional efforts into training, as well as encouraging more people to start their own small businesses. The economic growth of China slowed down to 7.6 in the first 6 months from 7.7 in the first quarter of 2013.

Photo Credits: The Epoch Times