MNI INTERVIEW: China Job Market Can Withstand Global Woes: Cai

     BEIJING (MNI) - China's deep labor market is robust enough to absorb

impacts from external shocks, Cai Fang, a vice president of the Chinese Academy

of Social Sciences, told MNI in an interview Tuesday. 

     Without identifying the trade war with the U.S. as a concern, Cai said the

current job market is stable with unemployment around 5%, in line with recent

years. 

     The number of China's rural migrant workers is declining, suggesting that

labor supply is tightening, said Cai, a noted expert on population and the

economy, on the sideline of the Nation People's Congress.  

     China forecasts the surveyed unban unemployment rate at around 5.5% in

2019, according to Premier Li Keqiang's work report released today, higher than

the reported 4.9% in 2018. The government anticipates increased pressure on

employment as growth slows, according to the work report.

     If the employment rate rises above 5%, China can employ further policies,

including reducing taxes, improving reemployment training and encouraging the

growth of the service industry, Cai said.

--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com

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