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New measures to boost employment
Last Updated: 2018-11-05 09:11 | China Daily
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Li emphasizes supportive actions at State Council executive meeting

China will take targeted measures to further boost employment, the State Council's executive meeting chaired by Premier Li Keqiang decided on Friday.

Employment momentum has remained steady this year, and the number of urban jobs created in the first three quarters has surpassed the government's target for the whole year, meeting participants said. Yet with a complex environment at home and abroad, there still is considerable pressure on employment, and the nation will continue to give priority to creating jobs and implement a more proactive employment policy.

"Employment creation is the primary mission of economic development and a fundamental livelihood issue for the people," Li said. "As we are still expected to face considerable employment pressure in the coming year, we must prepare well and take precautionary measures as much as possible, which may include giving local governments and businesses more flexibility in employment policies."

Employment incentives also were decided on.

Companies that minimize layoffs will be eligible to have half of their unemployment insurance expenses reimbursed through reduced fees.

Startups will get more jobs support through such measures as government guaranteed financing. Private businesses and medium, small and micro businesses are major job providers and should be given priority in employment policy incentives, meeting participants urged.

As of Jan 1, groups eligible for internship subsidies will be expanded from college graduates yet to land jobs to jobless youths aged 16-24. The jobless will be encouraged to take part in skills training programs, and those who graduate from these programs will get training subsidies.

Needy jobless people will be given allowances or relief on a temporary basis, or be covered by subsistence allowances.

In an effort to reduce corporate burdens and expand employment, it was also decided that the policy of reducing the combined unemployment insurance contribution rate from 3 percent to 1 percent will continue beyond its previous deadline of next April.

The Ministry of Human Resources and Social Security said 11.07 million new urban jobs have been created in the first nine months, 100,000 more than the same period last year. The surveyed urban unemployment rate stood at 4.9 percent in September, down by 0.1 percentage point year-on-year.

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New measures to boost employment
Source:China Daily | 2018-11-05 09:11
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