China plans to officially launch an unemployment rate survey and publically release the results during the 12th Five-Year Plan period (2011-15). The data is likely to become one of the major indices of state regulation, the 21st Century Business Herald reported today.
The nationwide survey will be co-held by the National Bureau of Statistics (NBS) and the Ministry of Human Resources and Social Security (MHRSS), covering the unemployment status of both urban and rural residents.
In the past, the government published the registered newly increased urban employment and unemployment data. As many laid-off people will not take the initiative to register by themselves and the rural unemployment is not included in the registration, the rate previously released is usually lower than the number resulted from surveys conducted by the NBS and the MHRSS before, which were not released, the report said.
Though the current unemployment registration could reflect the situation to some extent, a survey would be more scientific and accurate, said Zhang Libin, an analyst with the Chinese Academy of Labor and Social Security.
Currently there are four major targets of state regulation, namely GDP, commodity prices, employment goals and international balance of payments. Employment goals and commodity prices are indices more sensitive to reflect a country's economy, Zhang added.