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China targets urban jobless rate below 5% in 2016-2020 plan

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2016-07-15 09:14Xinhua Editor: Sun Tian

China hopes to keep the urban unemployment rate below 5 percent between 2016 and 2020, under a plan released on Thursday by the Ministry of Human Resources and Social Security.

It said the country will aim to create job opportunities for more than 50 million people in cities during the period.

China's registered urban unemployment rate was 4.05 percent as of June.

The ministry said China would be under pressure to ensure employment since measures to cut industrial overcapacity lead to job losses.

The plan promises more services and support, especially for college graduates and workers that have been made redundant in the industrial restructuring.

In the next four and a half years, about 15 million young people, mostly college graduates, will be looking for jobs in cities every year, Minister of Human Resources and Social Security Yin Weimin said.

The registered unemployment rate in Chinese cities stood at 4.05 percent in Q2, slightly higher than Q1's 4.04 percent, latest data shows.

China created 7.17 million new jobs in the first half of 2016, down by about 10,000 from the same period last year, according to the ministry.

The government aims to create 10 million new jobs this year. Latest data shows the government achieved 71.7 percent of the task in the first half of the year. The registered unemployment rate is based on the number of unemployed people who register with human resource authorities or employment service institutions.

  

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