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China keeps urban jobless rate at 4.1%, mulls expanding pension fund investment

(Xinhua)

08:33, January 21, 2012

BEIJING, Jan. 20 (Xinhua) -- China's urban jobless rate stood at 4.1 percent in 2011, the same as a year earlier, said the Ministry of Human Resources and Social Security (MOHRSS) on Friday.

Altogether, 12.21 million jobs were created in urban China in 2011, well above the 9 million annual target, MOHRSS spokesman Yin Chengji told a press conference here.

The figure also exceeded the 11.68 million new jobs created in 2010.

The employment situation stayed basically stable in 2011 and the government will carry out "more proactive" policies to boost employment, Yin said.

He cited economic growth and government aid as factors supporting the employment.

China's economic expansion slowed to 8.9 percent year-on-year in the fourth quarter of 2011, but still faster than market expectations.

The employment outlook remains grim for 2012, with 25 million urbanites in need of jobs, 1 million more than the annual average of the 2006-2010 period, Yin said.

Uncertainties in the economy will have a greater impact on employment while the structural conflict between labor oversupply in some sectors and shortages in others will continue, he said.

He reiterated that the government will continue to give priority to creating enough jobs for college graduates in 2012.


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