Amid labor market pressure China pledges to support employment

china labor market

china labor market

 Amid pandemic China’s labor market has been deeply impacted, just like other nations. On Monday, China’s cabinet vowed to keep employment at a priority by redirecting its monetary and fiscal policies and thereby support the labor market in the country that is experiencing immense pressure.

According to a statement released by the State Council meeting chaired by Premier Li Keqiang, China is facing large unemployment pressure during 14th five year plan that is scheduled to end in 2025. The cabinet also urged that China must aim for complete employment during this period as well as better quality jobs for the people of China.

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The meeting on Monday said, “China will continue to make employment the top priority of economic and social development as well as macro policies, strengthen the government’s responsibility while maintaining the market’s dominant role in order to achieve higher-quality employment.”

The cabinet also called out all departments to work towards strengthening policy adjustment that would in turn ensure the Chinese economy to work in a reasonable range. With rising commodities prices amid damages due to extreme floods and re-emergence of coronavirus cases in many provinces, the global economic environment has remained complex. This makes it even more important to focus on developing labor intensive industries to provide more employment opportunities in China. The cabinet also urged the government to provide better services and opportunities to critical groups like migrant groups, fresh graduates, military veterans and also people who have just recovered from poverty.

The statement by cabinet said that China would be working towards strengthening vocational skill training. This would cover up the gap that leads to unavailability of employment due to unmatched skills. China will also work on eliminating discrimination in employment and also protect rights of irregular workers, women and senior employees.

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