Workforce mismatches economic structure

%3CP%3E%3CFONT%20face%3DVerdana%3EFrom%20industries%20to%20workers%2C%20and%20from%20China%u2019s%20east%20to%20west%2C%20we%u2019ll%20show%20you%20whether%20China%u2019s%20is%20hiring%20or%20firing.%20Tonight%2C%20we%20start%20with%20China%u2019s%20economic%20structure.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EIt%20may%20be%20even%20more%20important%20than%20GDP%20growth%2C%20a%20slowdown%20in%20China%u2019s%20job%20market%20is%20a%20major%20risk%20factor%20for%20the%20country%u2019s%20policy%20makers%2C%20as%20it%20is%20closely%20linked%20to%20social%20stability.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EMore%20than%207%20million%20new%20graduates%20join%20the%20job%20market%20this%20year%2C%20a%20record%20number.%20At%20the%20same%20time%2C%20weakening%20economic%20growth%20means%20less%20job%20vacancies.%20For%20these%20fresh%20graduates%2C%20the%20job%20market%20may%20not%20be%20quite%20so%20rosy.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20Ministry%20of%20Human%20Resources%20and%20Social%20Security%2C%20which%20oversees%20the%20labor%20market%2C%20admits%20this%20year%u2019s%20employment%20is%20challenging.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EAccording%20to%20the%20ministry%2C%20for%20every%20100%20job%20seekers%2C%20there%20are%20107%20positions%20available%20in%20the%20second%20quarter%2C%20the%20number%20is%20lower%20than%20the%20first%20quarter.%20But%20manufacturing%20surveys%20show%20factories%20have%20been%20shedding%20jobs%20throughout%20this%20year.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EConstruction%20sites%20like%20this%20are%20not%20employing%20as%20many%20workers%20as%20before.%20China%u2019s%20also%20shutting%20down%20outdated%20factories%20in%20industries%20like%20steel%20and%20cement%2C%20once%20drivers%20of%20growth%20but%20now%20plagued%20with%20overcapacity.%20China%u2019s%20challenge%20is%20managing%20its%20economic%20transition%20--%20with%20slower%20growth%2C%20but%20avoiding%20a%20spike%20in%20unemployment.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%u2019s%20economic%20transition%20is%20creating%20a%20dilemma.%20College%20graduates%20are%20not%20the%20type%20of%20job%20seekers%20employers%20want%20the%20most.%20Experienced%20technicians%20are%20in%20demand--but%20there%20aren%u2019t%20as%20many%20of%20them%20as%20employers%20want.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20mismatch%20between%20China%u2019s%20workforce%20and%20economic%20structure%20is%20growing.%20Recent%20research%20shows%20manufacturing%20workers%20receive%20less%20than%2010%20years%20of%20education%20on%20average.%20Technicians%20and%20engineers%2C%20which%20companies%20are%20eagerly%20hiring%2C%20only%20account%20for%203%20percent%20of%20the%20workers.%20Chen%20Yu%20says%20the%20key%20to%20address%20such%20structural%20imbalances%20is%20training.%20China%20needs%20a%20more%20skilled%20workforce%20to%20support%20its%20move%20up%20the%20value%20chain.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3CBR%3E%28CCTV.com%29%3C/FONT%3E%3C/P%3E