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Social security net widens; 12 mln jobs added


17:00, December 29, 2011

BEIJING, Dec. 29 (Xinhua) -- China took more steps this year to build up its social security net to benefit more people in rural and urban areas while creating more than 12 million new jobs in non-farming sectors, Yin Weimin, minister of human resources and social security, said Thursday.

With the addition of those new jobs in cities and towns, China was able to keep its registered urban unemployment rate below the government's full-year target of 4.6 percent this year, Yin said at a national conference on human resources and social security.

Compared with 11.68 million new jobs created in 2010, jobs created this year also exceeded the government's target of 9 million, according to data from the Ministry of Human Resources and Social Security (MOHRSS).

"The employment situation has stabilized in our country," Yin said, citing a couple of figures in the job market.

The State Council, or China's Cabinet, this year adopted a string of measures, including offering tax breaks, subsidizing vocational training and offering small loan guarantees, to help 5.2 million laid-off workers get back to work.

The government also boosted support to university graduates, who make up a large portion of new labor force each year in a country with a total population of about 1.3 billion.

Aside from the improved employment sector, the country's pension insurance system was extended to cover 300 million people in rural and urban areas by the end of this year, with about 85 million senior citizens claiming their pensions every month, Yin said.

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