China adds 10.52 million urban jobs in first nine months, plans services hiring boost
China created 10.52 million urban jobs from January to September, hitting 87.7% of its annual target. The labour ministry plans a new policy to boost services-sector hiring. The urban unemployment rate averaged 5.2% in the first eight months.
China added 10.52 million urban jobs in the first nine months of the year, meeting 87.7 per cent of its annual target, the labour ministry said on Saturday. The surveyed urban unemployment rate averaged 5.2 per cent from January to August, and employment remained “generally stable,” officials from the Ministry of Human Resources and Social Security told a State Council Information Office press conference.
The ministry is planning new measures to boost hiring in the services sector. Vice Minister and spokesperson Li Zhong said the ministry will work with other departments on a policy document to promote employment through services sector development, enabling services to better act as the main channel for absorbing jobs. Beijing will also work to keep employment steady in labour-intensive industries and look for new job opportunities in emerging and future industries, he added.
As of end-September, 1.079 billion people were enrolled in basic pension insurance. Unemployment insurance covered 251 million people and work-injury insurance covered 327 million. The three social insurance funds had a combined balance of 11.2 trillion yuan ($1.67 trillion).