Caixin OnlineFinance & EconomicsTop Stories Finance In Wednesday's Papers: Call for New Approach to Unemployment Figures, Huawei Denies Reports It's Buying Nokia
06.19.2013 18:04

In Wednesday's Papers: Call for New Approach to Unemployment Figures, Huawei Denies Reports It's Buying Nokia

Call for New Approach to Unemployment Figures

The Ministry of Human Resources and Social Security has repeatedly advised the State Council to compile and publish survey-based unemployment figures, the minister, Yin Weimin, said in a speech on June 17. The country uses the urban registration unemployment rate to monitor workforce conditions. The method has been criticized for not covering rural migrant workers and those who do not report their unemployment status. Since 2002, the registration-based unemployment rate has been between 4.0 and 4.3 percent, even in the midst of the global financial crisis. Despite calling for an alternative, Yin said the current method is still accurate and reliable.

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