4 min read.Updated: 19 Apr 2016, 11:03 AM ISTZhang Jun
Leaders are confronted with a difficult choice: higher near-term unemployment or slower long-term growth
Since 2002, China’s economy has undergone significant changes, including a shift from acceleration to deceleration of gross domestic product (GDP) growth. Yet, the official urban unemployment rate, jointly issued by the National Bureau of Statistics (NBS) and the Department of Labor and Social Security, has remained remarkably steady, at around 4-4.1%. Since 2010, it has stood at precisely 4.1%. This is surprising, to say the least—and has led some to ask whether the NBS could be fudging the numbers.