CHINA - Government Exceeds Target Of 11 Million New Jobs In 2019 Despite Slower Economic Growth (CHINA.ORG.CN)

Posted 16th December 2019 • Written by staffingindustry.com •

Despite external uncertainties and concerns of a softening economy, China has kept delivering job gains with 11.93 million new urban jobs created in the first ten months this year, meeting the annual target of creating more than 11 million new jobs ahead of schedule, reports China.org.cn, citing data according to the National Bureau of Statistics. Before 2019, China had created more than 13 million new urban jobs annually for six consecutive years even though its GDP growth slowed. The country's economy expanded 6.2% in the first three quarters, within the government's annual target of 6 to 6.5%. Maintained by the steady economic growth, China's job market is getting stronger support from the tertiary industry. According to the National Bureau of Statistics, the urban unemployment rate at the national level in October was 5.1%, 0.1% lower than the previous month. "The stable labour market is not only a result of the expanding economy but also benefits from an improved implementation of the employment-related policies," Zhang Ying, an official with the Ministry of Human Resources and Social Security said.