The Minister of Human Resources and Social Security says the global financial crisis has had a negative impact on the domestic job situation. But Yin Weimin is confident of achieving the country's whole-year employment goals.
According to figures from the Ministry of Human Resources and Social Security, the supply of new jobs in China in the first three quarters fell year-on-year. While growth in the number of new employees has started to slow.
The Minister of Human Resources and Social Security says the global financial crisis has had a negative impact on the domestic job situation. But Yin Weimin is confident of achieving the country's whole-year employment goals.
He says the most vulnerable groups during this financial crisis are workers in export and labor-intensive fields. As the economy slows, the impact will be felt in the fourth quarter and the first half of next year. But he says he is confident in achieving this year's goals of creating 10 million jobs and reemploying 10 million laid-off workers.
Yin Weimin, Ministry of Human Resources & Social Security said "By the end of the year, the employment and social security goals, which were set in Premier Wen Jiabao's government work report, will be met."
In the first nine months of the year, 9.4 million workers found jobs in urban areas, and 4 million laid-off workers found new jobs.
Minister Yin says the country's sound and stable economic fundamentals will guarantee employment and social security. For example, the GDP growth rate for the first three quarters in Guangdong Province was 10.4 percent.
To help increase employment, the government will adopt a series of measures, like providing small loans to support the development of labor-intensive companies and encourage the creation of new businesses.
(CCTV November 6, 2008)
