In this latest release from China’s Human Resources, the country’s planners worry about finding 12-million jobs. That is the gap between the number of positions required to support 8% planned GDP growth, and the number the economy actually seems to want. (The following translation is via Google Translate, with some minor tweaks from me.)
Present and future, China is faced with the employment situation remains very grim. ??????????????????????? First, from a total point of view, the contradiction between labor supply exceeds demand even further. 2009 ?????????????? The 2009 full-year total number of persons in need of employment is more than 24 million people. ???? 8% ???????????????????????????? 1200 ???????? 2008 ?????????? If, in accordance with 8% economic growth rate estimates, the year’s total number of new jobs is only about 12 million, the employment supply and demand gap compared to 2008 will further increase.
This sort of thing gives a sense of how top-down growth remains in China, with a growing middle-class pursuing its own interests sometimes at odds with massive government spending that is largely disconnected from organic economic growth. Thus, of course, this 12-million jobs figure.
[Source]
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