Guangzhou to release employment index

Guangdong province in southern China is one of the major job markets for the country's migrant workers. Its capital, Guangzhou, will be the first in China to release an employment index. Starting early next year, the index will give people a better understanding of the supply and demand in the local job market.

The employment index will start publishing in late January 2013. It aims to help people accurately understand the city's labor market, and make forecasts on the flow of labor.

Experts say the traditional method of township registration and unemployment rate surveys don't accurately reflect the labor supply and demand. The new index will be much more helpful.

Tang Shaomin, director of Guangzhou Labor Employment Service, said,"The employment index mainly reflects quantitatively the current and future employment situation. It can also forecast an employment situation at some time in the future, and mirror the current labor supply and demand, as well as an economic situation as a whole."

There are five levels in the employment index. Green means a balanced labor supply and demand; yellow and red represent a serious imbalance between economic development and employment; while blue indicates severe unemployment.

Tang Shaomin said,"If a man is looking for a job, he can adjust his mindset according to this index and consider the employment conditions in terms of his own requirements. For those who are employed, they can consider the economic situation through this employment index, as it is a quantitative index."

Management officials say the employment index will play an active role in promoting economic development of Guangzhou. And they hope Guangzhou's experience will be a good example for the rest of the country to follow.