What's an autocratic government to do?
Make it difficult for companies to fire workers, for one.Chinese Officials Fear Unrest Over Job Losses
"A top Chinese official on Thursday described the country's employment outlook as 'grim' and said he will expedite a new system to mediate employment disputes as China seeks to head off social unrest amid a weakening economy.
"Speaking at a news conference, Minister of Human Resources and Social Security Yin Wenmin warned of a rise in the number of newly jobless workers... Yin warned that China's urban unemployment rate could rise to 4.5 percent by the end of the year, up from 4 percent...
"Job creation and economic growth in China are considered crucial to maintaining the Communist Party's hold on power. With factory workers losing their jobs and taking to the streets in protest, the government has moved quickly this fall to quell dissent, in some cases handing out cash to laid-off workers to keep the demonstrations from growing.
"'This is not just an economic issue, but a social issue,' said Hu Xingdou, an economics professor at the Beijing Institute of Technology. 'China's social security system is imperfect -- no job means no food. Rising unemployment could lead to serious social unrest.'...
"Some local governments are taking their own steps to protect their constituents' jobs. Businesses in coastal Shandong province, for example, must now apply for government permission to lay off more than 40 workers. Companies in central China's Hubei province that want to lay off more than 50 workers will also have to give the government 30 days' notice..."
Labels: China, economics, politics
posted by Ken Wedding @ 6:03 AM
0 Comments:
Post a Comment
<< Home