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.

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