Why does economic slowdown increase employment?

**Abstract** Although China's economic growth rate has slowed in recent years, the expansion of the overall economy has led to a greater increase in employment compared to previous periods. As a result, employment has shown a steady upward trend. Xin Changxing, deputy director of the Ministry of Human Resources and Social Security, stated that the employment situation in the first half of this year remained generally stable, with the unemployment rate staying at a low level. The employment situation in China has remained relatively stable. According to statistics, urban areas have consistently seen more than 12 million new jobs created annually, while the registered urban unemployment rate has stayed around 4.1%. The job market for college graduates is also largely stable, as is the migration of rural laborers. In 2013, the number of migrant workers reached 269 million, reflecting the scale of labor mobility across the country. Currently, the employment structure in China is undergoing positive changes. The share of employment in the tertiary sector surpassed that of the primary sector for the first time in 2011. By 2013, the distribution of employment across the three sectors was 31.4% in agriculture, 30.1% in industry, and 38.5% in services. Recent data shows that from January to May this year, the number of newly employed individuals in urban areas reached 6.07 million, while 2.48 million people were re-employed, and 730,000 individuals facing employment difficulties found work. These figures indicate a continued rise in employment opportunities. Xin Changxing emphasized that the employment situation in the first half of the year remained stable, with steady increases in new urban jobs and employment for those facing challenges, and the unemployment rate maintained at a low level. **Economic Transformation and Employment Growth** China’s slowing economic growth has not necessarily translated into higher unemployment. Niu Li, director of the Macroeconomic Research Office at the National Information Center, explained that one key reason is the changing demographic structure over the past decade. The number of people entering the labor market has decreased, reducing the demand for jobs. Another factor is that although the growth rate has slowed, the overall size of the economy has increased, meaning that each unit of GDP growth now supports more jobs than before. For example, in recent years, every 1 percentage point increase in GDP has generated about 1.5 million new jobs. Additionally, the restructuring of the economy has created more employment opportunities. The service sector has grown faster than the manufacturing sector, and it typically generates more jobs per unit of output. This shift has helped maintain employment levels despite slower GDP growth. Government reforms, such as streamlining regulations and encouraging entrepreneurship, have also played a role. In the first quarter of this year, nearly 2.4 million new businesses were registered, a 40% increase compared to the previous year. This surge in small and micro enterprises has significantly boosted employment. The government has long implemented an active employment policy, with employment being a key focus of macroeconomic strategies. Measures to stabilize jobs and support vulnerable groups are well-established, ensuring that employment remains a central concern in economic planning. The industrial transfer between regions has also contributed to job creation. In March of this year, 45.1% of new urban jobs were created in the eastern region, 30.5% in the central region, and 24.4% in the western region. At the same time, the movement of surplus rural labor has increased, especially in central and western provinces. **Structural Challenges Remain** Despite these positive developments, employment challenges persist. Yin Weimin, Minister of Human Resources and Social Security, pointed out that several issues remain. First, the imbalance between labor supply and demand will continue for a long time. Second, structural imbalances are becoming more pronounced. There is a shortage of skilled workers in certain industries, while many college graduates and urban residents face difficulty finding jobs. With industrial upgrades, these contradictions may become even more severe. Third, some outdated production capacity is being phased out, leading to the need for re-employment among affected workers. If not managed properly, this could lead to localized unemployment risks. Additionally, the challenge of employing college graduates remains significant. To address these issues, the government plans to deepen its employment priority strategy. It will encourage local governments to prioritize job creation in their development goals and establish stronger links between economic growth and employment. Industrial layouts will be adjusted to promote high-quality job creation and support regional development. Urbanization initiatives will also help improve employment for rural migrants. In terms of targets, the Ministry of Human Resources and Social Security estimates that over 16 million new urban workers will need jobs this year. Considering natural attrition, about 5 million jobs can be filled automatically. To keep the unemployment rate below 4.6%, at least 10 million new jobs must be created. With an economic growth target of around 7.5%, achieving this employment goal is still feasible.

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