Key facts
- China added 10.52 million urban jobs in Jan-Sept, meeting 87.7% of its annual target.
- The surveyed urban unemployment rate averaged 5.2% from Jan-Aug.
- The Ministry of Human Resources and Social Security plans new policies to boost services sector employment.
- Basic pension insurance covered 1.079 billion people as of end-September.
- Unemployment insurance covered 251 million people.
- Work-injury insurance covered 327 million people.
China added 10.52 million urban jobs in the first nine months of the year, meeting 87.7% of its annual target, the Ministry of Human Resources and Social Security announced on Saturday. Officials from the ministry stated that employment remained "generally stable" during this period, with the surveyed urban unemployment rate averaging 5.2% from January to August.
The ministry is planning to introduce new measures aimed at boosting hiring within the services sector, viewing it as a primary channel for job absorption. Vice Minister and spokesperson Li Zhong indicated that Beijing will collaborate with other departments on a policy document to promote employment through services sector development. Additionally, efforts will be made to maintain steady employment in labor-intensive industries and explore new job opportunities in emerging sectors.
As of the end of September, 1.079 billion people were enrolled in basic pension insurance. Unemployment insurance covered 251 million people, and work-injury insurance covered 327 million. The combined balance of these three social insurance funds stood at 11.2 trillion yuan ($1.67 trillion).