China’s job market has started off well in the first two months of 2023 and is expected to remain stable throughout the year as the economy continues to recover, backed by solid fundamentals and effective government measures to support employment. At a news conference in Beijing, Minister of Human Resources and Social Security, Wang Xiaoping, stated that job fairs have been held nationwide, offering around 32 million job vacancies. She added that the job market will be supported by innovation and entrepreneurship, and new employment opportunities will continue to emerge. However, Wang highlighted the challenges faced by the nation in addressing the structural imbalance of the job market and meeting the annual employment target. Vice-Minister Yu Jiadong emphasized that the ministry will continue to prioritize the employment of college graduates and encourage government bodies and State-owned enterprises to expand their recruitment campaigns. According to statistics from the Ministry of Human Resources and Social Security, an annual average of 13 million jobs were created in the country’s urban regions over the past 10 years, with 12.06 million jobs created in urban regions last year.
Despite the positive outlook, Yu Jiadong noted that the country still faces employment pressure due to the large working-age population, which totaled 876 million by the end of last year. About 16.62 million residents are expected to enter the urban job market this year, adding to the employment pressure. To tackle this issue, the government plans to roll out solid measures to support business startups, the service sector, and micro and small enterprises. They will also provide assistance to those who have recently shaken off poverty.
The Chinese government’s focus on stabilizing the job market is not surprising, given that employment is a key factor in social stability. With China’s rising population and ongoing economic growth, it is essential to create enough jobs to support its citizens. By implementing effective policies to support employment and expanding recruitment campaigns, the government hopes to create more job opportunities for its citizens.
Overall, the positive performance of China’s job market in the first two months of 2023 and the government’s commitment to supporting employment bode well for the country’s economic development and social stability.