According to the Chinese Ministry of Human Resources and Social Security, the rate of unemployment is some areas throughout China increased a little bit in late June. To be more specific, the rate increased from 4% to 4,05% on average. At the same time, the first half of the year ended up with a cut in the amount of vacant jobs.
At the same time, the stats published by the ministry indicate that the Chinese authorities created over 7 million new jobs over the period of January through June 2016. At the same time, they announced that 10 million more jobs are going to be created in the near future. This was backed by the promise made by the Chinese Prime Minister. The ambitious goal is expected to cut the rate of unemployment even further.
Forex
In the meantime, the Chinese Yuan is still going down within the scope of the same mid/long-term downtrend against the U.S. Dollar, Masterforex-V Academy experts report.
To be more specific, the currency pair is currently trading close to 6,6881. The closest level of support is 6,5680. The key levels of resistance are located at 6,7000, 6,7200.
