(ECNS) -- The surveyed unemployment rate and registered unemployment rate for urban areas last year reached 4.9 percent and 3.8 percent, respectively, according to a report by the Ministry of Human Resources and Social Security.
It is the first time that the ministry has disclosed the surveyed unemployment rates.
The report said the number of employed people reached 775.86 million, of which 26.1 percent worked in primary industry jobs, 27.7 percent in secondary, and 46.3 in tertiary.
The revenue of China's pension, unemployment and occupational injury funds totaled 5.71 trillion yuan ($8.2 trillion) for the year, up 850.9 billion yuan or 17.5 percent year-on-year, while total expenses stood at 4.92 trillion yuan, up 17.2 percent or 722.8 billion yuan.
Last July, China launched a central adjustment system for the basic pension funds of enterprise employees to balance the payment burdens of local governments. Data showed the central adjustment fund totaled 242.2 billion yuan in 2018.
China's pension system has three pillars—basic endowment insurance, enterprise annuity, and personal commercial endowment insurance. However, for a number of reasons, the pillars are not well-balanced.
Some 87,400 enterprises participated in the enterprise annuity scheme, and that involved 23.88 million employees, the report said.
By the end of last year, China's social security system covered 1.227 billion citizens, or 88 percent of the total population, the report said.
