Erring on side of caution

The employment of China's vast number of migrant workers not only concerns their own well-being, it serves as a barometer of the country's economic health.

Sporadic media reports on migrant workers - mostly farmers seeking jobs in cities - returning home because of the worsening job situation in coastal regions are on the rise, causing concerns about the health of the economy.

But despite the anecdotal evidence of job cuts, policymakers will not rush to adopt any stimulus package unless they are convinced that unemployment has risen to a level where job creation through stimulus is unavoidable.