China's job market remains tough, and it is becoming especially hard for college graduates to find jobs, vice Human Resources minister Yu Jiadong said on Thursday.
China's cabinet on Wednesday unveiled plans to boost employment, including supporting financial institutions to offer loans to small firms and issuing subsidies to firms that hire college graduates or unemployed young people.
The government will strive to achieve its job creation target this year, Yu said, while noting the uncertainty hanging over the global economic outlook.is staging a gradual but uneven recovery from one of its worst showings in nearly half a century last year. The cabinet said that China would issue subsidies to some firms that hire college graduates and unemployed youths till the end of this year and would encourage state-owned firms to expand their recruitment.
A record 11.58 million college graduates will hit the job market this year, with the economy still feeling the impact from COVID-19 curbs that were removed in late 2022 and a crackdown on tech and education sectors.
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