Sina news reported that China is facing a "severe" employment crisis.
Some 34.5 million workers are expected to enter the labor pool from 2006-2010 said a member of the Chinese People's Political Consultative Conference.
25 million new job-seekers are expected to enter the market this year and only 11 million will find jobs.
A senior official proposed 4 answers.
1. Local governments should create jobs by helping the service sector to develop
2. Policies should be established to help small and medium companies to grow.
3. Local goverments should encourage private businesses by providing loans, risk funds and investment guarantees for the self-employed.
4. Young grads should be encouraged to work in rural areas in western China and be given minimum salaries and health insurance and subsidies for those who go to the most remote areas.
These are good suggestions but I find it hard to imagine that a young person would have his/her heart set on going west. But, then, why not?
China will have to expand inland sooner or later. A young person who went there now might be in great shape 10-20 years from now...or sooner.
What do you think?
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