Unemployment down as startups create new jobs
Print Edition
SHANGHAI has created 598,900 new jobs and helped 10,958 people start their own businesses in the first 11 months of the year — roughly the same as last year, authorities said yesterday.
By the end of November, registered urban unemployed population was down by 12,700 to 248,400 from the same period last year.
“Despite the slowdown in economic growth in China, we’ve seen growth in employment in Shanghai,” said Zhang Lan, deputy director of the Shanghai Human Resources and Social Security Bureau. He said that was due to the efforts of the local government which encouraged entrepreneurship and the various policies it pursued to generate employment.
The government helped 32,000 people start their own businesses in the past three years under a plan that encourages entrepreneurship with financial support, subsidies, tax cuts, and other policies, Zhang said.
These entrepreneurs had created 283,300 jobs, meaning, on an average, each entrepreneur had created nearly nine jobs.
Loans worth 220 million yuan (US$35.44 million) were distributed to startups this year, which was up 57 percent from last year, and 3,821 people — up 50 percent from last year — had received government-organized trainings on running businesses.
A vocational training platform for small and micro businesses had trained over 40,000 employees from more than 2,000 companies.
Nearly 96 percent of the city’s 168,623 graduates had secured their jobs by September 1, slightly up from last year, according to Lu Jing, deputy director of the Shanghai Education Commission.
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