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China unveils jobs package

08 March 2010
China unveils jobs packageThe Chinese government has unveiled a 43.3 billion yuan stimulus package that will aim to boost employment.

During the opening of parliament's annual session, premier Wen Jiabao disclosed that his administration plans to generate more than nine million jobs in urban areas and keep the registered unemployment rate below 4.6 per cent this year.

The State Council leader predicted that the employment situation in the remainder of 2010 will "still be serious", particularly for college graduates and rural migrant workers, China Daily reported.

Mr Jiabao also called for the government to do everything in its power to boost labor market participation, including offering guidance, vocational training and policy support.

Speaking to the National People's Congress, he said: "We will do everything in our power to increase employment."

Last month, the Ministry of Human Resources and Social Security suggested that employment prospects for Chinese graduates will become tougher in June as millions of new university-leavers enter the labor market.ADNFCR-1275-ID-19655481-ADNFCR