‘Severe’ Jobless Problem in China

Despite continuing high-speed growth in the Chinese economy keeps a high-speed growth, joblessness remains a fear for millions of Chinese,especially after the launch of the new labor law last year. From BBC News :

China is facing a very severe unemployment problem, says Labour Minister Tian Chengping. He said 20 million new workers entered the labour market each year, chasing only 12 million jobs.

He said employers were complaining about a lack of skilled workers and China had to provide more training. Speaking on the sidelines of the annual National People’s Congress in Beijing, Mr Tian said the aim was to keep urban unemployment at or below 4.5%.

China is aiming to create 10 million new jobs this year and find work for 5m sacked workers, he added. Correspondents say China’s unemployment figures tend to understate the situation as they only cover the urban jobless.

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