Jul 15, 2022 04:18 AM

ECONOMY

China’s Premier Pledges to Shore Up Employment as Economy Sputters

China’s surveyed jobless rate in urban areas is near 6%, up sharply from just under 5% at the end of last year.

China’s surveyed jobless rate in urban areas is near 6%, up sharply from just under 5% at the end of last year.

(Bloomberg) — China will take further measures to stabilize employment as the country grapples with a flagging economy battered by the Covid-19 pandemic and a crumbling real-estate market.

The government will support businesses by continuing to implement previously announced relief measures and removing bottlenecks, the official Xinhua News Agency reported, citing a decision Wednesday at a State Council executive meeting chaired by Premier Li Keqiang.

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