The number of employed people in Shenzhen had exceeded 11.7 million based on the data of unemployment insurance by the end of June, a year-on-year increase of 2.76 percent and reaching a historical high, Shenzhen Special Zone Daily reported yesterday.
By the end of June, the number of newly employed people in Shenzhen was 70,000, which was basically unchanged on a year-on-year basis. The unemployment rate was 2.33 percent, lower than the annual control target of 3 percent, according to statistics from the city’s human resources and social security bureau.
Shenzhen recorded 28,300 college graduates in 2020, with an employment rate of 73.1 percent. There were about 8,600 graduates from technical colleges in the city who entered the workforce this year, and the employment rate stood at about 97 percent, which is higher than the average level of both the province and the country.
According to the bureau, since the outbreak of the epidemic, Shenzhen has rolled out a policy to reduce and exempt social security premiums for businesses to reduce their financial burdens.
From February to June, the city had reduced and exempted 22.96 billion yuan (US$3.29 billion) of social security premiums. It is estimated that the total amount of social security premium reductions and exemptions will reach about 45.37 billion yuan for the whole year.
To encourage entrepreneurship, Shenzhen has included local business entrepreneurs into the scope of loan applications, and increased the amount of guaranteed loans for individual applicants to 600,000 yuan. The maximum loan for running a business in partnership is 3 million yuan.
In order to better protect the basic livelihood of the unemployed, Shenzhen has expanded the coverage of unemployment insurance and extended the period of receiving unemployment insurance premiums for the older unemployed.