Layoffs expected; graduates increase Bu Su Zhou

An estimated 1.8 million employees in the iron and coal industry will be laid off in the process of reducing excess industrial capacity in China, according to Yin Weimin, minister of human resources and social security.

"In addition, as they face a slowing economy, many companies with operational difficulties will not generate as many jobs as before," Yin said on Monday.

However, Yin remained positive about the overall stability of the labor market, saying measures would be taken by the government to help the unemployed.