Timely, effective policy support crucial to stabilize job market

China's surveyed urban unemployment rate was 5.2 percent in May, unchanged from the previous month, and the general unemployment rate in the past five months shows a downward trend.

While young people face huge pressures finding jobs, there is a shortage of skilled workers in the market. With many university students graduating soon, promoting stable employment will pose an arduous task for the authorities.

The authorities must make greater efforts to develop the economy and create a good environment for business entities. As the pillar and main source of job offers, business entities play an important role in stabilizing growth, promoting innovation, increasing employment, and improving people's livelihoods.

The various policies and measures implemented by China to reduce the burden on enterprises and stabilize jobs have effectively benefited business entities, and released positive economic and social effects. The government should continue promoting the implementation of relevant policies to help more business entities enhance confidence and restore vitality. It should take practical measures to solve the problem of financing difficulties, lower their financing costs, and eliminate unfair competition by adopting specific policies.

Private business entities not only provide more than 80 percent of urban jobs, but also create more than 90 percent of new jobs. The private sector in particular serves as the main channel to absorb college graduates and migrant workers. Therefore, the country must optimize and improve the business environment, and strive to solve the problems of declining profitability, weak investment desires, weak long-term financing demand, and lack of confidence for private enterprises.

The stabilization of employment is inseparable from targeted policy support. The country should help key groups find jobs and provide key groups facing employment problems "one-to-one" assistance. It should give priority to employment, explore market-based employment channels, and improve the public service system for employment.

China should also solve structural problems and ensure that total supply and demand of jobs are balanced. Effective measures should be taken to stabilize employment in manufacturing and foreign trade enterprises, optimize the setting of majors in universities, and improve vocational education and skills training based on market demand.