Per FT, "China is struggling to cope with a...>

CHINA: Per FT, "China is struggling to cope with a rise in unemployment in the

wake of the coronavirus pandemic, with payment of benefits stalling & questions

being raised about the real number of jobless in the country. The Chinese

economy has been pummelled by the health crisis, with gross domestic product

falling 6.8 per cent in the first quarter, after a national lockdown brought the

country to a standstill. Beijing has lifted restrictions on most regions in a

bid to restart the economy. But some analysts say the country's social safety

net is not supporting the unemployed. The Ministry of Human Resources and Social

Security said last week that 2.3m people received jobless benefits in the first

quarter of this year, the same as the previous quarter. Yet the nation's

official unemployment rate rose to 5.9 per cent, or 26m, in March from 5.2 per

cent, or 23m, in December. Lu Hai, a professor at Peking University's Guanghua

School of Management and an expert in China's labour market, said the situation

could deteriorate further as the export sector, a significant employer, was hit

by lockdowns in markets such as Europe and North America. "Job positions may

fall another 10-15 per cent without policy intervention," said Prof Lu."