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China adds 10.52 million urban jobs in Jan-Sept, to roll out services jobs policy
Reuters • • business
Key Points:
- China created 10.52 million urban jobs in the first nine months of 2023, achieving 87.7% of its annual employment target, according to the labour ministry.
- The surveyed urban unemployment rate averaged 5.2% from January to August, with employment described as "generally stable" by officials.
- The ministry plans new policies to boost hiring in the services sector, aiming to make it the main channel for job absorption, and will also focus on labor-intensive and emerging industries.
- As of September, over 1.07 billion people were enrolled in basic pension insurance, with unemployment and work-injury insurance covering 251 million and 327 million people respectively.
- The combined balance of China's three social insurance funds reached 11.2 trillion yuan ($1.67 trillion) by the end of September.
