International marketing talents recruitment: special session
Marketing Talents - China Opportunities
Helping Chinese companies locate international talents
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Employment in China
Employment in China has become an important factor in the country's economic growth and development. According to the National Bureau of Statistics of China, the total employment rate reached 79.8% in September of 2019. Additionally, the unemployment rate was 3.9% by the end of the first three quarters of 2019, which was down 0.2% compared to the same period in 2018.
China has long been a very labour-intensive economy with a large labour force. In 2019, the total population aged 15 and above was over 900 million and accounting for 65.9% of the total population. Generally, wage growth and employment dynamics have been closely linked to the economic cycle in China. During economic booms, wage growth typically outpaces employment growth. In the event of a recession, wage growth slows and unemployment rises.
Employment creation in the country has varied over time, with the tertiary sector (Services) playing an increasingly important role. In comparison to the secondary sector (Industry), the tertiary sector has been an important provider of employment. In 2018, the tertiary sector contributed 61.8% to the number of employed people in China, while industry accounted for 33.9%, followed by the primary sector (Agriculture) at 4.3%.
Job creation in China has recently been focused on high value-added and high-tech industries, such as the Internet, biotechnology, new materials, artificial intelligence, and green technology. These industries are heavily promoted by the government and offer much higher wages than the traditional industries. This shift in the labor market is expected to continue to drive China's economy.
The Chinese government is also investing heavily in education and training to help the country transition from an economy based on low-skilled labor to a knowledge- and technology-based economy. The government has established vocational schools, established national qualifications and certification systems, and implemented apprenticeship programs to upgrade the skills of its labor force.
Furthermore, the Chinese government has also implemented a number of labor market policies to boost employment. These include public works programs, public support for entrepreneurship, financial support for households affected by unemployment, and policies aimed at promoting labor mobility and employment opportunities for vulnerable groups, such as migrant and rural workers.
The government has also created a social security system, which provides unemployment insurance, housing subsidies, and pension benefits. This system is designed to reduce the costs of unemployment, resulting in increased stability and security for workers in China.
All in all, the Chinese government has taken a number of steps to create jobs and improve the labor market in China. With its focus on new, high-value industries, educational reforms, and labor market policies, it is likely that employment in China will continue to be a key factor in the country's economic success. Thus far, employment in China has been growing steadily and is expected to continue to do so in the years to come.