China’s job market remains stable in spite of obstacles
(MENAFN) China’s labor market has remained relatively steady despite facing mounting global and domestic hurdles, thanks to a series of strategic actions implemented by national and regional authorities aimed at bolstering employment and helping businesses keep their staff.
Recent figures show that the nationwide urban unemployment rate stood at an average of 5.2% during the first six months of the year. This marks a 0.1 percentage point decrease from the first quarter, suggesting a consistent and stable employment environment.
With the global landscape becoming more uncertain and difficult to navigate, the director of a major employment research center, Zhang Chenggang, highlighted the importance of unified action to address these issues. “We must fully counter the impact of external pressures and domestic economic shifts on employment,” Zhang stated. He stressed the need for a variety of strategies to ensure jobs are not only preserved but also of high quality.
To further stabilize employment, the country’s top administrative body recently released a directive outlining enhanced policy efforts. According to reports, seven key initiatives were introduced. These include widening access to targeted loans intended to preserve employment, increasing unemployment insurance rebates for qualifying businesses, and expanding social insurance subsidy programs.
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