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China To Add Jobs For Young People

CHINA PRESS
MNI (Singapore)

China plans to add one million jobs for young people in 2023 as its unemployment ratio jumped to a record high, China Business Network reported citing a circular issued by the State Council. The government wants to prioritise new graduates which totaled about 11.58 million, with the unemployment ratio of young people aged 16-24 increases to 18.3% in Q1 compared to the overall ratio at 5.5%. The circular asked state-own companies to open more positions and lenders should strengthen credit support to sectors that provide new jobs. The authorities will increase subsidies to companies absorbing additional employees.

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