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Millions of Laid Offs Re-employed
Some 4.92 million workers laid off from State-owned enterprises were re-employed last year, accounting for 42 percent of the all laid off workers in China, according to Tuesday's "Guangming Daily".
According to statistics released by the Ministry of Labor and Social Security and the National Bureau of Statistics, China has guaranteed the basic needs of laid off workers and adequate old pensions for retired workers.
China had 6.52 million laid-off workers by the end of last year, 420,000 more than the previous year. Ninety-five percent had been trained to get back into the workforce. Most of them have received increased allowance for living expenses by 30 percent from July last year.
By the end of 1999, some 124.86 million workers and retirees had joined the country's pension and old-age insurance scheme.
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