China Looks at Expanding State Jobs for Freshers
The Chinese Government has directed the state enterprises, local governments and public institutions to hire more people for this fiscal year at least since the private sector is reeling under tremendous economic pressure owing to the pandemic situation in the country.
In China, around 8.7 million students are graduating this year and it is half a million more than that of last year and their future is very much bleak because of the pandemic situation in the country. Job stability and security are very sensitive factors in the country and the government feels that lack of these may turn into negative energy for the students. That is why; it has decided to make the government agencies hire more people.
Though the GDP figures of the country have seen an increase in the second quarter, the unemployment data for the graduates between 20-24 years was more than three times the rate for the broader population, increasing to 19.3% in June, which is again 2.1% percentage points higher than the figures observed in May.
As directed by the government, companies such as the Oil Giant Sinopec Corp are increasing its total recruitment by adding 3500 new positions for the fresh graduates. In Henan Province also, the SOEs are going to expand hiring and reserve at least half of the new positions for the fresh graduates only, for this year. The Government schemes sending young people to work in less developed areas of the country have also been revived and 5000 more places have been created this year for fresh graduates to help with poverty alleviation and other community programmes. Thousand more graduates than in 2019 will be granted passing grades in the highly competitive civil service examinations in the country whereas Central Hubei Province has increased its quota by more than 40% in the total allocations with the northern region of Inner Mongolia quadrupling its overall quota.
Month: Current Affairs - July, 2020