China's economy has entered into a New Era，with the economic transformed from high speed growth to high quality development.Improving high quality development is the radical requirement of today and tomorrow to confirm development thread，to make economic policy and to implement macro control.
At the same time，as the report of the 19th National Congress of the Communist Party of China has mentioned，the main contradiction of our society has transformed into the growing demand of people with the unbalanced and insufficient development.The balance of labor market directly impacts the overall economic activity.Labor market is the market where the production，exchanging and allocation of labor factors happened.Meanwhile，the combination of labor and capital decided the border of production activity.As a result，the labor market has a direct influence on the overall economic balance.The unbalance of labor market reflects the incomplete and discordance in the process of labor market development，which includes the demand and supply of labor，the relative price of labor factor，the mobility of labor and the government intervention.
Forty years since the reform and opening-up in China，the supply of labor has turned from structural surplus to structural shortage，the shortage of high skilled labor and the unemployment of low skill labor coexist.Meanwhile，labor market segmentation is a big obstacle of the one price law of labor.There exists distinct income gap between rural and urban，among different regions and different industries at a high level.Moreover，the mobility of labor is decreasing gradually，the barrier of household registration system on labor mobility is still obvious.Finally，the labor market regulatory policies have made great progress，social insurance has covered all labor in general.However，the level of social insurance is still unbalanced.These four problems mentioned above reflects four main content of labor market unbalance and impact the goal realization of the balance and sufficient economic development.
Based on the above understanding and referring to the demand and supply of labor market，price，mobility and government management，this report builds the Labor Market Balance Index System which includes four second tier index and nine third tier index.Measuring by the Labor Market Balance Index System，this report summarized eight characteristics of China's labor market balance condition in recent ten years.Firstly，the balance of labor market has been increasing.From 2007 to 2016，the Balance Index has increased from 53.6 in 2007 to 64.7 in 2016.Secondly，there are remarkable balance difference between regions.We can conclude that with forty years practical exploration of reform and opening-up，China's labor market has stepped from absolute balance under no development to high quality balance development.During this evolutionary process，it is inevitable to meet the problem of local unbalance.Thirdly，the labor market has strong ability to recover to relative balance state.The government is taking positive action to smooth the influence of labor market caused by short-term economic fluctuations.The Index can recover to the previous level before the shock in one or two years and keep increasing after that.Fourthly，“High Skill Thirsty”and “Golden Bowl Rusting”coexist.The most obvious phenomenon is that some industries are hard to fill the high skill vacancy，at the same time，some industries are under the threat of being replaced by emerging technology，thus facing the challenge of monopolistic income decreasing and unemployment risks.Fifthly，the government regulations give rise to big variations of the Labor Market Demand and Supply Index.The variation of the Index reflects the government's active behavior as well as the over control during crisis.Sixthly，inclusive economic growth expanded although income distribution unbalance is still obvious.Seventhly，orderly flow of labor is the adjuster of labor market balance.Eighthly，social welfare system is an effective tool to improve labor market balance.
As a result，this report concludes that in order to achieve the balanced development of labor market and full employment，we can make policy selection in five aspects.Firstly，continue expand employment as well as improve employment quality，promote to meet high quality employment along with full employment.Secondly，promote balanced development of rural and urban as well as different regions，fill the gap between labor market.Thirdly，eliminate gender discrimination and realize gender equality in the labor market.Fourthly，improve the quality of labor，fill the valley of technology progress.Fifthly，close income distribution gap，realize fairness when improving efficiency.