Number of jobless may peak next year – China Daily

From The China Daily, via China Economic Net:

The number of unemployed Chinese in cities is about to hit 17 million next year, the peak year in the coming five years, according to a top economic planner.

Considering a pool of 150 million surplus workers in the countryside, the job market in China is still “complicated and grave,” said Du Ying, vice-minister of the National Development and Reform Commission.

The number of unemployed Chinese in cities is about to hit 17 million next year, the peak year in the coming five years, according to a top economic planner.

At a recent meeting of his commission, Du said the annual average number of jobless people will reach 12.3 million during 2006-10 period, and the peak year is 2006.

The Ministry of Labour and Social Security held a different view, saying that the unemployment rate for next year will be lower than the average of the country’s 11th Five-Year Plan period.

November 25, 2005 3:18 PM
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Categories: Economy, Society