China Says Faces Huge Problem Finding New Jobs – Reuters

From Reuters:

China faces a huge challenge finding jobs for all its people, especially university graduates, a senior minister said on Tuesday, though he admitted some sectors of the economy faced staff shortages.

Minister of Labor and Social Security Tian Chengping said there would be 24 million new urban job-seekers on the market this year, but the government would only be able to find jobs for half of them…

China’s registered unemployment rate in urban areas was 4.1 percent at the end of 2006, unchanged from the end of September and down a touch from 4.2 percent at the end of 2005. [Full Text]

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