Employment Situation - In the first half of the year, 6.95 million new urban jobs were created, achieving 58% of the annual target, indicating a faster-than-expected progress [1] - The urban survey unemployment rate has steadily declined, reaching 5% in June, with an average of 5.2% from January to June, which is below the regulatory target [1] - Despite these positive indicators, employment pressure remains significant due to structural imbalances in labor supply and demand, particularly a talent gap of nearly 30 million in key manufacturing sectors [1] Role of Private Enterprises - Private enterprises are crucial for stabilizing employment, providing 80% of urban jobs and absorbing over 70% of rural labor transfers, with 90% of new jobs created in this sector [2] - There is a need to optimize the business environment for private investment and remove systemic barriers to encourage market expansion and job creation [2] - Support measures for enterprises that stabilize job creation include social security subsidies, tax reductions, and low-interest loans [2] Graduates and Employment - The number of college graduates is expected to exceed 12 million by 2025, necessitating the expansion of market-oriented employment channels and stabilization of public job positions [3] - Policies to incentivize organizations hiring recent graduates include one-time employment subsidies, and state-owned enterprises will continue to benefit from policies promoting job creation [3] - There is a focus on adjusting professional structures and enhancing students' professional and entrepreneurial skills to reduce structural employment conflicts [3] Support for Vulnerable Groups - There is an emphasis on strengthening employment support for vulnerable groups through improved public service systems and various financial incentives [4] - Initiatives include creating or purchasing public welfare jobs and providing assistance to older individuals, the disabled, and those long-term unemployed to prevent zero-employment households [4] - The government aims to promote lifelong learning and digital skills training to better align job seekers with market demands [4]

Core Viewpoint - Employment is crucial for people's livelihoods and the overall economy, and the government is committed to stabilizing and expanding employment opportunities this year [1]. Employment Performance - In the past year, China added 12.56 million urban jobs, with over 33 million people from poverty alleviation programs engaged in work, and the urban survey unemployment rate averaged 5.1%, a year-on-year decrease of 0.1 percentage points [2]. - Maintaining employment stability amidst external pressures and internal challenges is a significant achievement for a country with over 1.4 billion people [2]. Employment Challenges - The number of college graduates in 2025 is expected to reach a record high of 12.22 million, necessitating efforts to expand employment capacity [3]. - Structural employment issues are becoming more pronounced, with some individuals unable to find suitable jobs while certain sectors, such as domestic services and elder care, face a shortage of qualified workers [3]. Government Policies - The government is implementing a "combination punch" of policies to address employment challenges, including supporting labor-intensive industries, coordinating new technology applications with job transitions, and launching large-scale vocational skills training initiatives [3][4]. - Specific measures include focusing on stabilizing jobs in key sectors, providing support for vulnerable groups, and enhancing employment services for various demographics, including college graduates and veterans [8]. Economic Impact on Employment - A 1% increase in GDP can create over 2 million jobs, indicating a direct correlation between economic growth and employment stability [6]. - The government emphasizes the importance of improving employment-first policies and increasing resource allocation to drive job creation through industrial development [7]. Employment Services - Diverse and personalized employment services are crucial for matching talent with job opportunities and addressing employment barriers, which is essential for promoting high-quality and full employment [9]. - Local initiatives, such as specialized recruitment events and digital employment platforms, are being implemented to support job seekers and employers [8].