Beijing, Dec 29 (IANS) China created more than 12 million new jobs this year and kept the registered urban unemployment rate below 4.6 percent, a minister said Thursday.
Speaking at a national conference on human resource and social security, Yin Weimin, minister of human resource and social security, said China’s pension insurance system would cover 300 million people in rural and urban areas by the end of this year, with about 85 million senior citizens claiming their pensions every month.
Authorities said China’s social security funds that insure pension, medicare, unemployment, work-related injury compensation and maternity pay collected 2.35 trillion yuan ($372 billion) in revenues this year, up 24.7 percent year-on-year.
Across the country, 24 provinces, autonomous regions and municipalities raised their minimum wage standards by an average of 22 percent year-on-year in 2011, the minister said.
Labour law enforcement helped 1.29 million migrant workers recover 2.94 billion yuan in default in salaries and compensation this year, he added.
