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December 24, 2013

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600,000 jobs created despite slowdown

Nearly 600,000 jobs were created from January to November this year as Shanghai supported employment projects despite a downturn in the global economy, officials said yesterday.

The number of new jobs created exceeded the annual goal of 500,000 set at the beginning of this year but there were still a total of 261,100 unemployed permanent residents in the city at the end of November, said Li Ying, deputy director of the Shanghai Human Resources and Social Security Bureau’s employment promotion division.

Shanghai has been creating efforts to promote employment by making policies favorable to startup entrepreneurs, carrying out training programs for workers to learn new skills and organize job fairs and volunteers to help the unemployed.

Shanghai’s unemployment rate has been kept within 4.5 percent this year. However, next year’s employment situation looks dim.

“Although the macro economy is recovering, its effects on employment are yet to be felt as many companies are uncertain of the future and are cautious about hiring,” Li said.

From January to November this year, a total of 10,629 people started their own business in Shanghai, exceeding the bureau’s yearly goal of 10,000 people.

To encourage more people to start businesses in Shanghai, the bureau has raised the loan amount for small and micro-sized companies from 1 million yuan (US$164,700) to 2 million yuan. The amount for guarantee-free loan for small companies and young start-ups has also been raised from 100,000 yuan to 150,000 yuan.

The subsidy on rental fees for startup companies was also raised from 2,800 yuan to 3,000 yuan per person every year.

Shanghai will continue to focus on helping entrepreneurs to start up their own businesses, which can provide more job opportunities, Li said.

The bureau is cooperating with Shanghai Education Commission to register unemployed graduates and help them by organizing job fairs, providing internships and offering one-on-one career guidance.

The employment rate for  this year’s college graduates reached 96 percent by September, about the same level as the previous year.

The commission said more than 6,000 college graduates did not find jobs after graduating in June. About 4,000 of them found jobs by the end of September following joint efforts by the schools and the human resources and social security bureau.



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