China’s Employment Rate Remains Stable, Survey Reveals
Jenia Cane | | Jun 13, 2016 04:04 AM EDT |
(Photo : How Hwee Young -Pool/Getty Images) Chinese Premier Li Keqiang (R) gestures as he speaks to German Chancellor Angela Merkel (not pictured) during a meeting with at the Great Hall of the People on June 13, 2016 in Beijing, China.
A recent survey conducted by a leading data firm revealed that the employment rate of China's college graduates has remained stable.
According to the recently released survey conducted by the MyCOS Institute, most Chinese graduates are being employed by private establishments, China Daily reported.
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The survey found out that the employment rate of college graduates in 2015 remained flat at 91.7 percent, compared with 92.1 percent in 2014 and 91.4 percent in 2013.
In particular, 92.2 percent of university graduates and 91.2 percent of graduates from junior colleges and higher vocational schools were able to land jobs across the nation's various sectors.
The survey, which provided a good snapshot of China's employment rate, covered around 250,000 college graduates in 30 provincial-level regions in the mainland who were interviewed six months after they graduated last year.
Out of this number, 59 percent were employed by private firms, up by five percentage points two years ago, while the employment rates in state-owned enterprises, foreign-owned companies and joint ventures decreased.
The survey further disclosed that more of the nation's graduates are starting their own businesses, with about three percent of them registering themselves as self-employed in 2015.
To jumpstart their business ventures, most of the graduates obtained funding from their parents, relatives, friends or from their personal savings.
Among the sectors which hired more graduates included the education, medicare, media, information and communications, while the construction and hardware manufacturing industries employed less.
Also covered by the survey were some 41,000 employees who graduated from college in 2012.
The survey, which aimed to look into China's employment rate, showed that the employees' average monthly income was 5,696 yuan (about 868 U.S. dollars), 87 percent more than what they were earning three years ago.
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