Daily Management Review

China warns of "difficult and serious" labor market situation due to COVID-19


China will face a "difficult and serious" labor market situation because of sweeping restrictions designed to contain new COVID-19 outbreaks, China's premier warned.

Chinese Premier Li Keqiang warned of a "difficult and serious" labor market situation in the country. This is because of the new large-scale anti-COVID restrictions with which the Chinese government is trying to contain new outbreaks of the disease. This is reported by Bloomberg with reference to the statement of the Chinese Premier during a national teleconference on employment.

Keqiang instructed government departments and regions to take measures aimed at keeping citizens' jobs as a matter of priority. These are measures to support enterprises. "Stabilizing employment is important for people's livelihood, it is also a key support for the economy within reasonable limits," the Chinese premier said and urged enterprises to resume production while respecting covid restrictions.

According to Bloomberg, citing the National Bureau of Statistics, China's unemployment rate reached 5.8 percent in March, the highest since May 2020, when COVID-19 was rising worldwide.

source: bloomberg.com