China needs 25 million new jobs annually in next 5 years

• Source: People's Daily Online
• [09:33 December 02 2010]
• Comments

It is predicted that the overall labor force problems in China will not disappear, the structural challenges will become more prominent during the 12th Five-year Plan period, and China will still face great employment pressure, said Yu Faming, director of the Employment Promotion Division under the Ministry of Human Resources and Social Security, during the Congress of the China Association for Employment Promotion on Nov. 30.

Yu said that it is predicted that in the next five years, China needs to provide 25 million jobs each year on average. This figure is more than during the 11th Five-year Plan period.

However, China can only provide about 12 million jobs each year if the economic growth rate stays at 8 percent, and there will be a big gap between supply and demand. Therefore, China should promote and place employment in a more important position in the next five years. The China Association for Employment Promotion is now launching in-depth studies to provide a basis for decision-making and solutions.