Economists, investors and central bankers around the globe breathlessly awaited last Friday’s U.S. jobs numbers, knowing the figures will likely determine when and by how much the Fed decides to raise interest rates. The world’s second-largest economy can only dream of such excitement.
Officially, the unemployment rate in China’s cities has hovered around 4 percent for years. Even the slowest growth in a quarter century hasn’t disrupted this remarkable tranquility. Supposedly, more than 10 million jobs were created in the first three quarters of 2015, topping the government’s target for the whole year.
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