Policymakers discussed the issues of jobless at the three-day Central Economic Work Conference which ended yesterday.

The jobless rate could rise next year from 4% this year because of massive job cuts. If the rate rises above 5%, social stability could be threatened, a senior lawmaker warned.

So the government at the conference discussed measures to create new jobs and maintain the existing unemployment rate during the global financial crisis as rate above 5% will lead to a series of negative consequences. What is more, the number of poor urban residents would increase and living standards in cities would decline.

As a result, in order to keep the jobless rate low, local government should promptly hire Read more…

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