Urban unemployment will rise by 2 per cent a year in China’s first four years of World Trade Organisation membership, according to a report compiled by the Chinese Academy of Social Sciences. An estimated 3m-4m people will lose their jobs in each of the first five years of membership, with agriculture being the hardest hit sector.
However, the academy believes that employment prospects should improve 10 years after accession. By then improved trade and a modernised industry structure will help to create 2m-3m jobs a year.