A total of 57 million jobs will have been created in China's urban areas over the 2006-2010 period, the Minister of Human Resources and Social Security (MHRSS) Yin Weimin said Thursday.
Annual employment for the period will be 11.4 million, or 2.1 million more than China's 10th Five-Year Program (2001-2005) period, said Yin while addressing a national human resources and social security work conference.
Yin said the unemployment rate had remained under 4.3 percent throughout the period, while nearly 45 million underemployed rural workers had taken up new jobs in the non-agricultural sectors, 5 million more than the 2001-2005 period.
The Employment Promotion Law of 2007 as well as measures introduced after several natural disasters and the global financial crisis had boosted employment, Yin said.
Also, a system providing vocational training and employment services was taking shape, he said.
About 86 million people received special vocational training and 330 million people used government employment services during the period, he added.
Chinese Vice Premier Zhang Dejiang said at the national conference on human resources and social security that China needed to resolutely stick to the task of creating jobs and keep improving the social security system during the coming 12th Five-Year-Plan period (2011-2015).
In the next five years, the government should implement more effective employment measures and create jobs through diversified channels, Zhang said .
Zhang also said the government should increase investment in the social security network and expand the network's coverage so to improve the country's social security system for both rural and urban residents.
INTERNET job hunting giant Seek has expanded further into southeast Asia, taking a $206 million stake in a Hong Kong-based online recruitment website.
Seek yesterday announced it had purchased the majority holding in employment website Jobs DB Inc, giving it a 60 per cent slice of the Chinese company through the creation of a new company, Seek Asia.
Seek Asia is a partnership between Seek, James Packer's Consolidated Media Holdings, Macquarie Capital and Tiger Global.
Seek's co-chief executive Andrew Bassat said the move into Asia "built upon the company's existing international footprint" and exposed the company to "attractive regions".
"We believe this transaction represents a compelling opportunity for Seek to play an increasingly meaningful role and to expand its exposure in the region."
Seek's latest acquisition adds to several other major international investments including Chinese online jobs board Zhaopin; Southeast Asian recruitment website JobStreet and employment sites in Brazil and Mexico.
Evans and Partners analyst Paul Ryan said the Jobs DB acquisition would be part of Seek's long term strategy to become a leader in the Pan-Asian online employment market.
"When you add Jobs DB in, the combined businesses have a larger, more diversified and better presence in southern China," Mr Ryan said. "It's a bigger, more diversified and more profitable business."
Mr Ryan said he expected Macquarie and Tiger Global to exit Seek Asia through an IPO at a later date.
However, another analyst said Seek may have been spreading itself too thin with its latest Asian investment following co-founder and chief executive Paul Bassat's plans to leave the company in mid-2011.
"This is another company that they have to integrate and manage and try to grow," said the analyst, who declined to be named.
Seek Australia has a 69 per cent holding in Seek Asia and the other 31 per cent, $64 million, will be divided between the three other co-investors.
Mr Packer's $25 million Seek Asia investment was his first since selling out of Seek Australia last year for $440 million.
The media and casino mogul has also invested in Seek's Brazilian acquisition, Brasil Online Holding, and made an unsuccessful attempt to get Paul Bassat on the Ten Network board.
Seek shares rose 1c to $6.57.
On CBS' 60 Minutes last Sunday, the Brazilian billionaire Eike Batista told correspondent Steve Kroft that he's hiring Americans to weld his oil platforms.
"To weld the platforms?" Kroft responded incredulously. "Yes," replied Batista, explaining that his country's booming economy is at almost full employment, and Brazil needs to import workers. "Already we have created this year 1.5 million jobs," continued the world's eighth richest man according to Forbes' most recent tally. "It's unbelievable."
That unbelievable job growth is reflected in the latest global employment outlook survey by the staffing firm Manpower. Brazil rates fourth on the tally of the nations with the greatest optimism about hiring in the first quarter of next year. Brazil's net hiring outlook--the number of employers surveyed who expect to increase their employment rolls minus the percentage who expect to decrease them--is 36%. That's driven by a 7% gross domestic product growth rate, three times higher than in the U.S.
Manpower surveyed 64,000 human resource directors and senior hiring managers from public and private concerns worldwide to come up with its list. It asked each of them about their expectations for hiring in the first quarter of 2011. Almost half, 47% of them, came from 10 countries in the Americas, 24% from eight countries in Asia and the Pacific, and 29% from Europe, the Middle East and Africa. "This is very much a macro-economic look at new job creation," says the staffing firm's chairman and chief executive, Jeffrey Joerres.
The results are striking, if not surprising. India has pulled ahead of China since last quarter to take first place, with a whopping 42% net hiring outlook for the first quarter of 2011. China follows close behind at 40%, a 2% decrease from last quarter. Taiwan comes in third, with a net employment outlook of 37%.
Next in line, after Brazil: Turkey, at 27%."There are 75 million people in Turkey," Joerres notes, "more than people realize." And so, despite a lingering debt overhang, there are plenty of consumers buying stuff and driving growth and hiring. Next up after Turkey: Singapore, with a net hiring outlook of 26% for the first quarter.
Are these new jobs ones that should prompt Americans to consider moving? Possibly, says Joerres, though much of the demand gets filled by people from neighboring countries. Outfits like Manpower, which has offices in 82 countries, and the plethora of online job listings make the international job market ever more transparent.
While many of the openings are for low-paying jobs, there are also plenty of opportunities for highly qualified professionals, especially in fields like geoengineering and information systems, Joerres says. Oil and gas engineers are in high demand, for instance. That's a minority of the workers who relocate internationally for jobs, he adds, but it's a minority that's growing: "It's still on the margin, but the margin has gotten bigger."
The countries rounding out the list include Peru, Costa Rica and Argentina as well as Australia and Hong Kong.
How does the U.S. rate? Better than you might expect. It has a 9% net hiring outlook.
China will revise its list of 1,838 different kinds of job categories, which was made by the Ministry of Labor and Social Security, Quality and Technical Supervision Bureau and National Statistics Bureau in 1999.
The revision would reflect China's social structure better and help future workforce analysis and human resources development, said Yin Weimin, the Minister of Human Resources and Social Security and head of the revision committee, said at a ceremony held here Thursday.
As the country developed over the past decade, many occupations faded out while new ones appeared and thus the job list needed to be adjusted accordingly, Yin said.
The revision is expected to be finished in the first half of 2012.
By Robert Parkinson
2010 has seen the rate of professional level hiring in China rapidly accelerate and those in the recruiting and HR community can now really feel the pressure to find the right candidates starting to mount: MNC/Fortune 500 and SME led expansion held back during the economic turbulence of 2009 has resumed and the number of companies hiring in substantial volumes (more than 100 heads) has dramatically increased as companies seek to make the most of the anticipated 5-7+ years of economic buoyancy in China.
So which industries are particularly active?
RMG Selection's clients in the luxury goods sector, for example, are hiring extremely aggressively: A well known French luxury brand has seen their factories in France stretched to capacity, largely to fulfill demand from Asia, and specifically, China. There are such high levels of disposable income, in Beijing for example (a city now with the highest number of billionaires in the world) that there is even list-price demand for display models of 'big ticket' items such as $500k+ cars. This spending has been fueled particularly after the recent changes in the regulations governing the sale and purchase of real-estate. RMG Selection has seen highly competitive hiring in the luxury goods sector both from overseas and with firms poaching talent from direct competitors and other businesses with suitably skilled talent in China. A luxury handbag maker recently hired a senior-commercial executive from a major hotel chain. This is an example of movements from one luxury segment to another because of the lack of available talent.
In the mid-market consumer goods segment, car makers can not keep pace with demand for new cars, with many of these firms investing heavily in further expansion. Key areas of HR growth include manufacturing-oriented hiring as well as support functions such as training and network development.
In the professional services sectors such as banking, finance, and the law many areas have seen very strong growth through 2010 too, particularly those supporting the large number of initial public offerings of Chinese companies in Hong Kong.
Sales & Marketing: as firms continue to boost investment in increased capacity and support, the pressure (particularly from the Global HQ) to see a rapid return on this investment is ever present. The competition for high quality Sales & Marketing professionals is therefore fierce in a market which is generally felt to lack sales & marketing talent and leadership.
China has raised the compensation to be paid through work-related injury insurance during a regular meeting of the State Council chaired by Premier Wen Jiabao on Wednesday.
Regulation on Work-related Injury Insurance and the measures for the control of invoices were revised at the Wednesday meeting.
According to the revision, the compensation to families of those who die from work-related injuries has been raised to 20 times the per capita disposable annual income in urban areas. For work-related disability, the compensation rose by one to three months of salaries of the insured employee.
The revision has also widened applications of the regulation. Previously, only enterprises and small business employers were obliged to pay the premium, but now public institutions, social groups, non-profit grass-root organizations, foundations, law firms and accounting firms will also provide their employees with work-related injury insurance.
The revised measures on management of invoices calls for strict punishments to those engaged in producing, selling and using fake invoices.
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