第一财经

One Finance Editorial: Implementing the Priority Principle for Employment to Achieve High-Quality and Full Employment

原文:一财社论:落实就业优先原则,实现高质量充分就业

Summary of Key Points

The State Council has approved the "15th Five-Year Plan for Implementing the Employment Priority Strategy," which focuses on making "high-quality and full employment" a primary goal for economic development. This plan aims to address the overall employment challenges, structural contradictions (such as mismatches between industry supply and demand), and the challenges posed by new technologies like AI during the 15th Five-Year period. There are two main approaches to implementing this strategy: first, by strengthening policy support (systematizing employment policies and coordinating efforts among various departments); second, by promoting the alignment of industries with employment needs (evaluating the employment impact of projects, matching education with market demands, and providing training). The plan also takes into account both traditional employment sectors (such as flexible employment, agriculture, and services) and emerging fields, with the ultimate goal of achieving a win-win situation for both people's livelihoods and economic development.

Why Focus on "Employment Priority" Now? — Employment Challenges in the 15th Five-Year Period

Although employment was relatively stable during the 14th Five-Year period, several issues have become more prominent in the 15th Five-Year period:

1. Continuing overall employment pressure: Many people still need to find jobs each year, including graduates and rural migrant workers.

2. Profound structural contradictions: On one hand, there is a shortage of workers for factory and technical positions; on the other hand, some industries struggle to fill job vacancies.

3. Emerging issues: The rapid development of AI has raised concerns about job displacement. While some believe AI will create new opportunities, how will those whose jobs are automated adapt? These challenges must be addressed in advance.

Therefore, this plan sets a clear direction and prioritizes employment over previous periods.

How Will Policies Support Employment? — Incorporating "Employment Priority" into Regulations

This plan is not just a casual statement; it systematically consolidates previously scattered employment policies:

1. Coordinated efforts among departments: Fiscal (e.g., subsidies for companies to hire), monetary (e.g., loan support for small and micro enterprises), and investment (e.g., prioritizing projects that create jobs) policies must all work together in conjunction with employment strategies.

2. Investing in people rather than blindly investing in projects: In the past, some regions invested in projects without considering their employment impact, leading to waste of resources. Now, more emphasis will be placed on training and skill development, such as providing vocational training for workers to adapt to new job requirements.

3. Employment goals integrated into planning: High-quality and full employment are included in the national economic plan, establishing a mandatory goal for governments at all levels.

Industry and Employment Must Be Integrated — Development Cannot Be Separated from People

Industrial development and employment are interlinked and must be coordinated:

1. Evaluate employment potential before large-scale projects: When building large factories or undertaking major projects, it is essential to assess their potential to create jobs, not just focus on GDP growth.

2. Education must meet market needs: Many graduates struggle to find jobs because their education does not align with industry requirements. Educational programs should be adjusted to include courses in emerging fields like AI and renewable energy, along with large-scale vocational training.

3. Coping with the impact of AI: Whether AI displaces jobs or creates new ones, the government must provide support—improving social security systems to help workers acquire new skills and find new employment opportunities.

Both Traditional and Emerging Employment Areas Must Be Addressed — Protecting Traditional Jobs While Seizing New Opportunities

Employment strategies should not neglect traditional sectors. The 300 million people in flexible employment (e.g., delivery workers, ride-hailing drivers) need to be supported:

1. Upgrading traditional industries: Services (e.g., catering, domestic services) and agriculture (e.g., smart farming) must be modernized to attract more workers and accommodate flexible employment.

2. Encouraging new sectors: New industries like the digital economy and green technology should be supported to create more job opportunities.

3. Balancing different groups: Flexible workers need social protections, traditional industry workers need skill upgrades, and new industry employees require training. All groups must be considered to achieve a balanced approach.

The Essence of Employment Priority: Livelihood and Development Are Interconnected

Employment is the foundation of people's well-being—only with jobs can people earn income and live stable lives. It is also the basis for development, as economic growth should benefit everyone, not just focus on numerical targets. The core logic of the 15th Five-Year Plan is to ensure that high-quality development also leads to more job opportunities and better working conditions for all, ultimately maximizing social benefits.

In summary, this plan provides a roadmap for employment during the 15th Five-Year period, covering policies, industries, traditional and emerging sectors, and both short-term and long-term goals, all centered on creating more high-quality jobs. For individuals, this means greater policy support for finding jobs, acquiring skills, and changing careers. For businesses, it provides a clear direction for hiring and developing their industries.