INTERNATIONAL China: 3.3m new jobs in Q1
Thu, 26 Apr 2012
China saw the creation of over 3.3m new jobs in the first three months of 2012, according to data from the Ministry of Human Resources and Social Security.
The unemployment rate stood at 4.1% in this time, below the government’s 4.6% target.
Nonetheless, this rate of job creation still leaves the country short of the 25m new jobs it will need to meet the supply of new workers in the labour market.
Zhou Tianyong, professor of the Party School of the Communist Party of China, says that one effective way of boosting employment would be lowering tax for small and medium-sized enterprises (SMEs).