What is the unemployment rate in China?
Rising unemployment: Fear of social unrest is growing in China
For weeks, angry workers have been gathering in front of the factory gates in southern China to demand their wages. Thousands of businesses are said to have already closed as Chinese exporters feel the impact of the global economic crash.
However, some analysts doubt whether the number of plant closures and the number of protests have really increased. "It will only be reported on now," said a banker in Beijing. "And since foreign companies suddenly play a role, there is more international attention." In the southern Chinese city of Dongguan, the closure of a factory with 7,000 employees of the Smart Union Group made global headlines because the factory for the US toy manufacturers Mattel and Hasbro produced.
The government in Beijing has so far not allowed any critical analyzes of possible domestic causes of the unrest, but refers to the global financial crisis. "The labor market in China has been feeling the effects of the changes in the global economy since October," said Labor Minister Yin Weimin last week. The situation on the Chinese labor market is "bleak".
China's leadership is now hoping for positive effects from the gigantic economic program. At least the labor minister was able to report positive news: The official unemployment rate in China is still around four percent. However, these statistics say nothing about the true situation, as they only record unemployment in the cities - excluding migrant workers. And frustration grows with them.
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