80 Million People Unemployed in China, Job Crisis in Front of 9 Million People

Beijing: Coronavirus has also affected the economy of China. Millions of people have lost their jobs in China. The epidemic in China resulted in a market lockdown for weeks. Because of this, millions of people had to lose their work.

It cannot be said with certainty how many people have lost their jobs. Because there is no transparent data about this. In China, the agency that officially holds the unemployment data only keeps the data for the cities. In the past years it has been 4 percent to 5 percent.

But in recent times, official figures of unemployment have risen. According to a CNN report, the unemployment rate in March was 5.9 percent. After this, it became 6.2 last month. This rate means that in the last few days, 27 million people have lost their jobs.

Experts are telling that the unemployment figures in China are being reduced very much. While the actual situation is very bad.

According to a report, about 29 crore people in China are migrant laborers, who are involved in construction, manufacturing and other types of construction work. These are low income group people. But they have an important role in speeding up the economy.

If all these are mixed, by the end of March in China, about 80 Million people had to lose their jobs. This figure has been reported by Zhang Bin, an economist at the China Academy of Social Sciences.

Experts are saying that the figure of 80 Million may be close to the actual unemployment figure. But apart from this, the condition is bad. This means that about 10 percent of the people of China, who should have been working, have lost their occupation.

The development of China’s economy has been weak in the last decades. The situation has become like 1976 after the epidemic. At that time China’s economy was very bad.

Things may get worse in the coming weeks. About 8.7 Million people from Beijing will graduate from many colleges and universities. They will face job crisis. In the current situation, they will find it difficult to get jobs.