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政策跟踪 | 根据形势需要及时推出新的增量政策
申万宏源宏观· 2025-04-14 11:42
Group 1 - The central government emphasizes the construction of a community of shared destiny with neighboring countries, focusing on strategic mutual trust, regional stability, and deepening development integration [2] - The government aims to enhance domestic circulation, expand domestic demand as a long-term strategy, and support employment and income growth [3][4] - The government plans to implement proactive macro policies and timely introduce new incremental policies based on changing economic conditions [3][4] Group 2 - China has announced a series of tariff countermeasures against the U.S., increasing tariffs on all imported goods from the U.S. to 125% [6][7] - The Ministry of Commerce has placed several U.S. entities on export control lists, indicating a significant escalation in trade tensions [6][7] - The government is taking measures to mitigate the impact of tariffs, including adjustments in financial regulations and support for state-owned enterprises [8][10] Group 3 - The State Council has issued a plan to accelerate the construction of an agricultural power by 2035, focusing on rural revitalization and agricultural modernization [12][13] - The plan includes promoting the integration of rural industries and enhancing the competitiveness of agricultural products [12][13] Group 4 - The government has issued guidelines to improve the employment service system for college graduates, emphasizing the need for alignment between education and labor market demands [14][15] - The focus is on optimizing the supply of education and enhancing career guidance to facilitate high-quality employment for graduates [14][15] Group 5 - Employment pressure is rising due to structural unemployment caused by industry adjustments and trade frictions, particularly affecting low-education groups [18][19] - New job opportunities are emerging in the service sector, driven by new demands and technologies, with a notable increase in flexible employment [20][21] - The government is encouraged to support the service sector and flexible employment to alleviate unemployment pressures [21]
热点思考 | “稳就业”的核心抓手?
申万宏源宏观· 2025-04-14 11:42
Core Viewpoint - The article emphasizes the increasing pressure on youth employment and the need for enhanced employment stabilization policies in response to rising unemployment insurance expenditures [1][6][8]. Group 1: Causes of Employment Pressure - Structural unemployment is primarily driven by industrial restructuring and potential frictional unemployment due to tariffs. The proportion of unemployed individuals with junior high school education remains around 35%, while the share of college graduates and postgraduates has been increasing, reaching 15.5% and 2.2% respectively by 2022 [2][12][72]. - The overlap between low-education groups and migrant workers is significant, with both groups transitioning from manufacturing and construction to the tertiary sector. In 2022, 37.9% of unemployed individuals previously worked as production equipment operators, an increase of 7.5 percentage points since 2018 [17][72]. - Trade friction poses a risk to employment stability, particularly in industries with high reliance on imports from the U.S., such as computer communication and electrical machinery, where the average employment share exceeds 15% [3][30][78]. Group 2: Employment Opportunities - New demands and technologies are creating new job opportunities, particularly in social and life services. By 2023, employment in the tertiary sector increased by 2.8 percentage points compared to 2018, reaching 33.8% [4][40][79]. - Flexible employment roles, such as ride-hailing drivers and delivery personnel, are rapidly increasing, with the number of professional streamers projected to grow by 157% in 2024. This growth is attributed to lower educational requirements and experience needed for these positions [46][79]. - High-education groups face challenges as traditional industries contract while new technology sectors expand. From 2019 to 2023, employment in new technology sectors like electronic devices and electrical machinery grew at average rates of 9%, 8%, and 8%, while traditional sectors like oil and gas extraction saw declines of -5%, -3%, and -2% [52][53][79]. Group 3: Core Strategies for Employment Stabilization - The focus for stabilizing employment should be on enhancing support for the service sector while addressing skill mismatches in the labor market. Recent policies, such as paid internships for graduates, aim to bridge the gap between education and job market needs [5][57][80]. - Developing the service sector is crucial for alleviating employment pressure on low-education and migrant worker groups, as industries like accommodation and retail generate more jobs per unit of added value [60][67][80]. - Small and micro enterprises, representing a significant portion of the economy, require more fiscal and financial policy support to stimulate market demand and reduce operational costs. Recent surveys indicate that 47.4% of small business owners seek cost reduction measures, while 40.6% require financial support [67][80].
增量政策的愿望清单(民生宏观陶川团队)
川阅全球宏观· 2025-04-10 13:35
作者:陶川 张云杰 钟渝梅 随着关税冲击后市场的逐步企稳,当前我们正进入从稳市场到稳经济的接续阶段。 稳市场的 " 先手棋 " 效果立竿见影,接下来做好稳经 济的接续同样重要, 这就需要储备政策尽早与市场 " 见面 " ,否则经济下行压力的显现将造成二次风险 。而关于如何稳经济,从近期国 家层面一系列会议的频繁召开中已初见端倪。 围绕总理所说的 " 有充足的储备政策工具 " ,我们认为后续政策端有如下线索: " 打铁还需自身硬 " :关税乱局下,稳经济更需要构建 " 内循环 " 的明确指引。 在外部不确定性加剧的背景下,两会提出的 " 投资于人 " 含金量还在攀升 —— 短期来看内需修复是稳定经济基本面的关键一环,长期来看 " 内循环 " 的构建更是一项经济战略调整。 我们认为接 下来政策将向两个方向发力、促进内需的企稳: 一方面,既有政策进一步加力扩容。 比如 加力实施城中村改造、推进货币化安置 ,不仅可以加快形成更多实物工作量,同时还能惠及更 多居民。再如 去年颇有成效的"两新"、已在部分地区落地的生育津贴 ,都将成为今年财政促消费的重要路径。 增量的储备政策,可能包括再贷款、财政贴息、减税降费等。 20 ...
提高至5000万元!人社部发布通知
证券时报· 2025-03-24 13:57
人力资源社会保障部近日下发关于进一步加大金融助企稳岗扩岗力度的通知,在原有小微企业基础 上,将小微企业主、个体工商户等个人纳入稳岗扩岗专项贷款支持范围; 同时提高授信额度,将小微 企业最高授信由3000万元提高至5000万元,对个人最高授信1000万元。 近年来,人力资源社会保障部会同中国银行分支机构实施稳岗扩岗专项贷款,已取得良好效果。为更好发 挥金融对稳就业、扩就业的支持与引导作用,人力资源社会保障部下发此次通知,进一步加大金融助企稳 岗扩岗力度。 通知降低了稳岗扩岗专项贷款申请门槛,将贷款申请条件由用工人数不减少,放宽到用工人数减少水平低 于上年度城镇调查失业率控制目标;降低了利率水平,明确贷款利率最高不超过4%,最低可至2.9%。此 外,通知提出探索通过"创业担保贷款+稳岗扩岗专项贷款"合并办理的组合贷款方式,进一步提升贷款便 利度。 截至2024年9月底,全国登记在册个体工商户达1.25亿户。专家表示,人力资源社会保障部的相关举措, 将帮助更多小微企业降低成本、减轻经营负担,推动培育更多创业企业、个体工商户等经营主体,从而更 好带动就业。 通知还要求各地人社部门持续深化政银合作,积极拓展稳岗扩岗专项 ...