China adds up to 3.18 million urban jobs in the first quarter
The world’s number two economy, China, has already managed to add up to 3.18 million new urban jobs in the first quarter. Apart from that, this Asian country seems to have tamed its current unemployment levels, as they remain quite steady, according to the country’s social security ministry.
Then, the urban unemployment rate appeared to be about 4.04% by the end of the first quarter, thus staying quite flat from the end of the last year and somewhat lower compared to the year ago period, as the ministry states.
Li Keqiang, China’s prime minister, pointed out at March’ annual parliament meeting that the country is going to generate up to ten million new jobs and also keep the urban unemployment rate below 4.5% this year.
By the way, profits to the country’s social pension fund edged up 14.7% year-on-year to about 1.21 trillion Yuan exactly in the first quarter, while pension fund expenditure for the same period surged 12.8% to up to 967.7 billion Yuan.