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China to introduce surveyed unemployment rate
By Qi Xiao (chinadaily.com.cn)
Updated: 2010-02-26 10:29
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China will replace its registered unemployment rate with a surveyed rate in 2011, according to a report released by the Standing Committee of National People’s Congress, the Beijing News reported today.
The report by the National Development and Reform Commission acknowledged the limitations of the registered unemployment rate and said it may not represent the overall situation.
China introduced the registered unemployment rate in the 1980s as an important indicator for macro-economic adjustment. But critics have long questioned its accuracy saying it can’t reflect the real unemployment figures.
The surveyed employment rate will be in place in 2011, the report added.
