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BIZCHINA> Top Biz News
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China's urban unemployment rate reaches 4.3% in H1
(Xinhua)
Updated: 2009-07-24 10:44 The registered unemployment rate in China's urban areas was 4.3 percent in the first half this year, Yin Chengji, spokesman of the Ministry of Human Resources and Social Security announced Friday.
As of June 30, the number of urban residents registered as jobless was 9.06 million, down 90,000 from the end of the first quarter, Yin said. A total of 5.69 million jobs were created during the first six months this year, 63 percent of the government's annual target, he said. About 4.15 million college graduates, 68 percent of the total, had found jobs so far this month, said Yin. The rate was equal to the same period last year. "The employment figures are better than our expectations," Yin said. However, the need for more jobs was still great and was likely to last for some time. The government set a target at the beginning of the year to create 9 million new jobs for urban residents this year. However, there would be 24 million new job seekers this year, according to the ministry statistics. Yin called for better promotion of the development of labor-intensive industries and small and medium-sized enterprises to help boost employment. "Achieving the 8-percent economic growth target is essential for expanding employment because each percentage point growth in gross domestic product (GDP) can create 800,000 to 1 million jobs," he said. China's GDP expanded 7.9 percent year on year in the second quarter, up from 6.1 percent in the first quarter and 6.8 percent in the fourth quarter last year.
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