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China – 12.7 million new jobs despite tight labour market

25 January 2013

Government statistics showed on Friday that China created 12.7 million new jobs in urban areas during 2012, according to the Ministry of Human Resources and Social Security. But analysts remain sceptical as employment data varies and is considered unreliable.

News agency Reuters reports that China's urban unemployment rate remained flat for the 10th consecutive month at 4.1% at the end of last year.  However, experts have criticised the figures for disguising the true jobless rate as it does not account for the 250 million migrant workers in the country.

There are also discrepancies in the job figures. The National Bureau of Statistics last week reported China had created 11.9 million urban jobs in 2012. Economist at Nomura meanwhile said that the Chinese labour market tightened in the three months to December 2012. 


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