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China exceeds 2009 goal of nine million new jobs: report
Beijing (AFP) Dec 12, 2009 Some 9.4 million jobs were created in China's cities during the first ten months of the year, exceeding the goal of nine million for the entire year, state media said Saturday. According to government figures, the active population at the end of 2008 numbered just over 792 million, most of whom were in work. The unemployment rate among urban-dwellers was 4.2 percent, against 4.0 percent at the end of 2007. But it jumped to 4.3 percent in the first three months of 2009 due to the global financial crisis. Experts consider Chinese unemployment statistics often to be underestimated, especially since they do not include migrant workers and recent graduates. In a note published Wednesday, however, Standard Chartered bank said: "The employment situation among Chinas rural migrant labour force seems to have improved significantly as a result of the government's huge stimulus package." Li Wei, an analyst at the bank, said the unemployment rate for rural migrants fell from around 15 percent at the end of the first quarter of this year to less than three percent by the end of the second quarter, citing China's National Bureau of Statistics. Migrant workers felt the full force of the downturn as China's exports fell and factories closed. Beijing authorities, who fear unemployment could lead to social unrest, intervened in the crisis, ordering state businesses in particular to avoid mass lay-offs. Share This Article With Planet Earth
Related Links The Economy
Consumer prices rise as China powers out of crisisBeijing (AFP) Dec 11, 2009 China said Friday it had ended an almost year-long bout of deflation in November while factory output picked up as the world's third-largest economy powered ahead following the global crisis. Exports also fell at the slowest pace in a year, official data showed, as overseas demand for Chinese-made goods continued to improve. Analysts said the strong data showed China's recovery was gathe ... read more |
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