China adds 10.52 million urban jobs in first nine months

  • China added 10.52 million urban jobs during the first nine months.
  • 10.52 million jobs represented 87.7% of the annual employment target.
  • The ministry is preparing services-sector policies and supporting labor-intensive industries.

China added 10.52 million urban jobs during the first nine months of the year, reaching 87.7% of its annual employment target, the Ministry of Human Resources and Social Security said. The ministry is preparing measures to encourage hiring through services-sector development, which Vice Minister and spokesperson Li Zhong said should become a main channel for absorbing workers. China’s surveyed urban unemployment rate averaged 5.2% from January to August, while officials described employment as generally stable. Authorities also plan to support labor-intensive industries and identify opportunities in emerging and future industries. By the end of September, 1.079 billion people were enrolled in basic pension insurance, 251 million were covered by unemployment insurance and 327 million by work-injury insurance. The three social insurance funds held a combined 11.2 trillion yuan ($1.67 trillion).

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