China’s urban and township unemployment rate was reduced to 4% in 2007, state media reported, citing comments by the vice-minister of labor and social security. Zhao Yanli said that 12 million jobs had been created over the year, exceeding the government’s target of 9 million new positions. The unemployment rate fell by 0.1% for the third consecutive year. Unemployment for 2008 is expected to be held below 4.5%. According to official figures, 10 million people will enter the workforce every year between now and 2010. Zhao said that the Labor and Social Security Ministry was also considering new salary regulations to ensure steady pay rises.