China's urban jobless rate edges up from 8% in August 2011 to 8.05% in June this year, reaching...

|By:, SA News Editor

China's urban jobless rate edges up from 8% in August 2011 to 8.05% in June this year, reaching almost double the official rate of 4.1%. Unemployment among the 160M migrant workers, who aren't counted in the official stats, jumps to 6% from 3.4%. The high rate helps explain the government's reluctance to overhaul state companies, which could initially cost 4M jobs, says China expert Minxin Pei.