Chinas Employment Market during Covid-19 Pandemic: Stylized Facts, Policies and Prospect

Abstract

With the outbreak of COVID-19, the world labour market had been seriously affected, especially in China. This essay is written aims to analyse reasons that give rise to various types of unemployment by elaborating specific economic phenomenons relating to them and the possible government policies that can relieve the difficulties of employment. From discussing the general trend of the market behavior and the problems derived from it, on the whole, consequence caused by frictional unemployment has the biggest scope. The research significance of this essay is to offer a better understanding of factors that play a vital role in creating the unemployment. In this way, knots of the matter are able to be distinguished clearly, which is beneficial to help government to design a more appropriate policy. Generally speaking, statistics during this pandemic depicts a relatively low rate of occupational mobility in China and the monotony of major industries. To alleviate the situation, government should pay attention to the training of reemployed labour such as providing a short stern schedule suitable for actual circumstances. In the meantime, a readjustment on the market to improve the efficiency of resource exploitation should also be taken into account.