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The central government announced Tuesday (Apr 6th) that it will set up a system to regulate and control unemployment in the next two to three years.
The Ministry of Labor and Social Security said that it will concentrate on exploring possible methods for the regulation and control of unemployment, to avoid over-concentration in a certain period.
China's registered unemployed rate stood at 4.3 percent by the end of 2003, and the country has set a goal to keep it within 4.4 percent this year.
"With the goal to control unemployment, we will regulate the unemployment situation through legal, economic and administrative means, and keep its influence within people's resilience," said Zhang Xiaojian, vice minister.
Through unemployment regulation, China aims to control over-unemployment, shorten the cycle of unemployment, avoid over-concentration of laid-off workers in a certain period and ensure the jobless could sustain a living.
Statistics showed that 103.73 million people have been covered by unemployment insurance system by the end of 2003, 24 million more than in 1998. And 4.5 million laid-off workers currently claim unemployment compensation, seven times more than in 1998.
Editor: Wing
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