SCIO briefing on China's economic performance in the first three quarters of 2021
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E-mail China.org.cn, October 21, 2021
Cover News:
We noticed that employment maintained stable this year and the unemployment rate indicators have improved. What's the reason for this situation? How will the country's employment develop amid the increasing pressure for economic growth? Thank you.
Fu Linghui:
Thank you for your very important question. Employment is the foundation of people's well-being and development. The government attaches great importance to employment and continues to stabilize and expand it. With economic recovery this year, the employment-first policy worked effectively, and the growth in new jobs in urban areas is expanding. Meanwhile, the urban surveyed unemployment rate was stable with moderate decline, and the overall employment maintained stable. In the first three quarters of this year, newly employed people in urban areas totaled 10.45 million, achieving 95% of the annual target. The average surveyed urban unemployment rate is 5.2%, slightly lower than the 5.5% annual control target. In September, the urban surveyed unemployment rate was 4.9%, 0.2 percentage point lower than in August.
In the first three quarters of this year, the employment situation presented the following features. First, the overall employment situation has improved. The urban surveyed unemployment rate came in at 5.1%, 5.1% and 4.9% in July, August and September, respectively. The urban surveyed unemployment rate was stable with a moderate decline. The urban surveyed unemployment rate in 31 major cities was 5.2%, 5.3%, and 5% in July, August and September, respectively, showing steady improvement. Second, employment of the prime age group has been basically stable. The urban surveyed unemployment rate of the 25 to 59 age group was 4.2%, 4.3%, and 4.2% in July, August and September, respectively. The unemployment rate was lower and stable. Third, the employment of key groups has improved. Employment of college graduates increased, and youth unemployment fell. The surveyed unemployment rates of the population aged from 16 to 24 were 16.2%, 15.3% and 14.6% in July, August and September, respectively, falling month by month. We have continued to work to ensure employment for rural migrant workers, and their employment situation continued to improve. At the end of the third quarter, the total number of rural migrant workers increased 2% year on year, returning to the level in the same period of 2019 before the COVID-19 pandemic. The unemployment rate of rural migrant workers fell slightly in the third quarter.
In the first three quarters of this year, the employment situation has maintained a stable performance. The main reasons are: first, China's economy continued stable recovery, creating jobs. The gross domestic product (GDP) in the first three quarters increased 9.8% year on year, with an average two-year growth of 5.2%. The expansion of the national economy inevitably increased labor inputs and created jobs. Second, China's service industry continued its stable recovery to increase employment opportunities. The service industry has been expanding, and employment capacities have further grown. In September, the growth of the service industry accelerated, which was conducive to the improvement of employment. In September, the Index of Services Production grew by 5.2% year on year, 0.4 percentage point higher than that in August. The index of employment of the service industry's Purchasing Managers' Index (PMI) is 0.5 percentage point higher than that of August. Third, the employment-first policy has continued to produce positive results. The employment of key groups, including college graduates and rural migrant workers, improved, keeping the urban surveyed unemployment rate stable with moderate decline. Youth unemployment fell in the third quarter of this year. We have strengthened measures to create more jobs through business startups and strengthen vocational training to improve employment. Fourth, the platform economy and flexible employment have provided more employment opportunities. New business models are developing fast and will increase the need for new jobs. Since this year, the rapid development of livestream marketing and online shopping has also driven the increase of employees in relevant industries.
However, it should also be noted that the total pressure on employment and structural contradictions still exist, the unemployment rate of some groups remains high, and there are still job shortages in some coastal areas, so we need to continue our efforts to maintain stable employment. We need to continue to make cross-cycle adjustments to macro policies, promote steady economic recovery, and create favorable conditions for employment. We will implement the employment-first policy, strengthen employment services for key groups of college students and migrant workers, increase vocational skills training, promote the effective connection between supply and demand in the labor market, and promote stable and positive employment. Thank you.
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