China's Job Losses to Surge in 2011

China's unemployment rate could shoot up next year as 25 million temporary workers will lose their jobs when projects under the government's 4 trillion yuan stimulus package are completed, says Bloomberg.

 

Bloomberg notes that rising labour costs may also slow down hiring activities.

 

Citing economists, Bloomberg says if China's growth slows to 7.5% in 2011, only about 8 million new jobs will be created, resulting in a 31 million increase in unemployed people.
 

Suggested Articles

Some of you might have already been aware of the news that Questex—with the aim to focus on event business—will shut down permanently all media brands in Asia…

Some advice for transitioning into an advisory role

Global risks are intensifying but the collective will to tackle them appears to be lacking. Check out this report for areas of concern