July survey on unemployment rate rising slightly counter-cyclical adjustment will promote graduatesemployment as soon as possible

 July survey on unemployment rate rising slightly counter-cyclical adjustment will promote graduatesemployment as soon as possible

Although the July unemployment rate survey showed seasonal factors, the 0.2% year-on-year increase also shows that employment is under the overall stable market and under the pressure of economic downturn.

Zhang Chenggang, director of China New Employment Form Research Center of Capital University of Economics and Trade, told First Finance and Economics that in the face of downward economic pressure and external uncertainty, macroeconomic policies should still adhere to the spirit of the Central Economic Work Conference, accelerate economic system reform, continue to boost domestic demand, stabilize economic expectations and market confidence. Through the reform of tax reduction and fee reduction, the vitality of micro-subjects will be enhanced.

Survey unemployment rose slightly to 5.3%.

According to data released by the National Bureau of Statistics on the 14th, 8.67 million new jobs were created in cities and towns throughout the country from January to July, and 79% of the annual plan was completed. In July, the unemployment rate in the national urban survey was 5.3%, up 0.2 percentage points from last month. Among them, the unemployment rate in the 25-59-year-old population survey was 4.6%, which was the same as last month. The unemployment rate in 31 cities and towns was 5.2%. The average weekly working hours of employees in enterprises nationwide are 46.5 hours, an increase of 0.5 hours over the same period of last year.

Liu Aihua said that the current scale of employment continues to expand, January - July, urban new employment far exceeded the schedule. In July, the unemployment rate in the national urban survey was affected by the concentration of graduates into the employment market, which was 5.3% in that month, up 0.2 percentage points from last month. However, the unemployment rate in the survey of the population aged 25-59 was 4.6%, which was the same as last month, indicating that the employment market was stable.

Overall, the unemployment rate in the survey is relatively stable, while the completion of new jobs exceeds expectations, and the employment situation is generally stable, Zhang Chenggang said.

Liu Aihua said that from past yearsexperience and current monitoring data of colleges and universities, college graduates have found employment units one after another, and are gradually being implemented. With the advancement of employment, I believe that the data of future unemployment survey will be reflected.

Previous data from the Ministry of Human Resources and Social Affairs show that 8.34 million college graduates in 2019 have made steady progress in employment, and the employment level is basically the same as in previous years.

The Employment Survey of College Students in 2019 shows that although the vast majority of employers increased the number of school enrollments in 2019, the growth rate is generally lower than that of the previous year. Recruitment of the enterprises surveyed increased by 7.1% in 2019 and 8.4% in 2018 compared with 2017. The growth rate in 2018 was the largest in nearly three years.

Data also show that the recruitment of university graduates by 20 state-owned enterprises increased by 12.1% in 2019, but the absolute number of 21 private enterprises in 2019 exceeded the total number of 20 state-owned enterprises and 47 foreign-funded enterprises.

Counter-cyclical adjustment policy

Liu Aihua said that the current external environment is grim and complex, the downward pressure of the domestic economy is increasing, and the basis for sustained and healthy economic development needs to be consolidated. Since this year, the government has adopted a series of policy measures, including counter-cyclical adjustment policies, which are gradually becoming effective.

For example, new momentum is gathering and growing. Recently, it was announced that Chinas three new economic added value accounted for 16.1% of GDP in 2018, up 0.3 percentage points from the previous year, indicating that the new momentum is becoming more and more important in the whole economy.

The vitality of micro-subject is constantly improving. From January to July, the average number of newly registered enterprises reached 19.6 million, of which 21.3 million were registered in July. From January to July, the industrial added value of private enterprises above scale increased by 8.5% year on year, faster than that of industries above scale; from January to June, the profit of private enterprises increased by 6% year on year, faster than that of the whole, indicating that the vitality of private enterprises is constantly increasing.

Liu Aihua also said that in the next stage, the Political Bureau of the Central Committee has made a series of arrangements, including continuing to implement a proactive fiscal policy and a sound monetary policy, and continuing to take measures to support the development of private economy.

Su Jian believes that in the long run, to achieve sustained and stable employment growth, only through reform and opening up and structural upgrading. We should maintain stable employment and promote structural unemployment to be solved. The slowdown of economic growth restricts the ability to absorb employment. At this time, stable employment can not only guarantee social stability, but also increase the income of residents, laying the foundation for exerting the pulling role of consumption on the economy.