China creates 12 million new jobs this year

The Chinese government today said it has created 12.02 million new jobs in the first 11 months of this year surpassing the goal of 9 million. The urban registered unemployment rate stood at 4.1% at the end of September, below the annual target of 4.6%, the Ministry of Human Resources and Social Security (MHRSS) said. The employment situation has been better than expected this year amid the backdrop of slowing global economic recovery and downward pressures weighing on the domestic economy, state-run Xinhua news agency reported. China’s total urban population in search of employment reached 25 million in 2012, far exceeding the 12 million new jobs created annually in recent years, data show. Analysts have pointed out that in addition to the pressure to create more jobs, there is a notable gap between the skills of the unemployed and the skills required for certain positions. Most industries in China are currently facing a serious shortage of skilled workers. The manufacturing sector alone, according to the MHRSS, is in need of about 4 million senior technicians. (QNA)