AP: 12 million jobseekers in China won't find work

http://www.omaha.com/article/20090822/AP05/308229998/-1/MONEY

Published Saturday August 22, 2009

BEIJING (AP) - As many as 12 million people in China who are looking for jobs will not be able to find employment this year, an official newspaper reported Saturday.

China's top employment official said even if the country achieved this year's 8 percent economic growth target, only about half the 24 million jobseekers in the country would likely find work, the China Daily said.

"The shortfall between supply and demand (for jobs) will become larger than last year due to the failure to create enough job opportunities," the paper quoted Yin Weimin, minister of human resources and social security, as saying.

Employment is especially sensitive for the government, which bases its claim to rule on delivering economic gains and is worried about unrest among unemployed workers.

FULL story at link.