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China's urban unemployment rate reaches 4.1%

2012-07-25 11:03 Xinhua    comment

China's urban registered unemployment rate stood at 4.1 percent at the end of June, the Ministry of Human Resources and Social Security (MOHRSS) said Wednesday.

The rate remained unchanged from the first quarter of 2012, and rested below the government's 4.6-percent annual target set for this year.

China created 6.94 million new jobs in urban areas in the first half, fulfilling 77 percent of its annual target, MOHRSS spokesman Yin Chengji said at a press conference.

A total of 2.94 million laid-off workers were reemployed in the first six months, Yin added.

Last weekend, Premier Wen Jiabao warned of new employment pressures amid China's economic slowdown, saying the country will face a more complicated and more severe situation in creating sufficient jobs.

The negative impact of the global financial crisis on China's employment will linger for quite some time, leading to an imbalance between labor supplies and demand, Wen said.

China's economy grew by 7.6 percent in the second quarter of this year, marking the slowest pace of expansion in three years due to sluggish external and domestic demand as well as the country's efforts to cool the property market.

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