Even with its impressive growth rates, millions of Chinese will face serious employment difficulties during the next two quarters with 60 percent of new graduates facing unemployment, according to a Xinhua article. It explains:
"It is hard to create new jobs in large numbers due to surplus production capacity, more trade frictions and the revaluation of the yuan. As a result, it will be less easy to tackle employment pressure", said Zhang Xiaojian, vice minister of the Ministry of Labor and Social Security.
To read more:
http://news.xinhuanet.com/english/2006-05/07/content_4518343.htm
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