China faces job shortage
14 March 2007
China will have a hard time creating its targeted
9 million jobs this year, state media reported yesterday. "The country faces
huge job pressure and a grim market in the coming few years," Tian Chengping,
minister of labor and security, said on the sidelines of the National People's
Congress. The problem will be exacerbated by ongoing reforms at State-owned
enterprises, which will result in a large number of laid-off workers, he said.
These workers will combine with 5 million college graduates entering the job market
and rural workers traveling to the cities in search of work. He estimated that
there will be 24 million job seekers but only half will find work.