Multiple factors have contributed to stable employment. The emergence of new industries and business models such as big data, artificial intelligence and the Internet of Things have created new job opportunities, especially for college graduates whose number is expected to reach 8.34 million this year.

An increasing number of migrant workers have returned to their hometowns to find jobs or start their own businesses under government preferential policies, which increased employment in rural areas. Moreover, the home service industry has developed rapidly and become a driver for employment as a result of the changed birth policy and the increasingly serious aging problem.

However, China still faces huge employment pressure. On the one hand, the number of working-age people is large, with an average of over 15 million new members being added to the labor force every year in urban areas till 2020. On the other hand, the structural problems of employment are still prominent. For instance, some college graduates lack the skills required by certain jobs.

In order to stabilize employment, the government should offer better services to college graduates by providing them with job information and giving them guidance on seeking jobs or starting their own businesses.

Enterprises have a crucial role in stabilizing employment. The government should reduce the social insurance contribution rate of enterprises and give subsidies to enterprises that absorb workers having difficulty finding employment. It should also support the growth of emerging industries to create more job pportunities.

Professional skills training should be strengthened by providing more government funding and expanding the enrollment of vocational schools to solve the structural problem of employment.

(This is an edited excerpt of an article originally published in Outlook Weekly on May 20)