China Economy
China facing the tough task of stabilising economy amid COVID-19 pandemic, fast-aging population
Beijing: China is facing the tough task of stabilising employment in 2022 amid the crisis of COVID-19 and a fast-aging population.
The country must also ensure enough jobs are created for young people and new graduates, while solving structural unemployment, said the Society of China Analysis and Forecast (2022), an annual report published last Friday by the Chinese Academy of Social Sciences (CASS), South China Morning Post reports.
China’s job market is yet to recover to pre-pandemic levels, the report said.
Official data showed 12.07 million jobs were created in the first 11 months this year, fewer than the 12.79 million over the same period in 2019.
“Employment’s growth momentum has yet to be completely restored,” the report as quoted by the newspaper.
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