Study On The Impact Of The Improvement Of Provincial Overall Planning Level Of Pension On Labor Employment

With the rapid development of the economy and society,the "localization" management mode of pension has been gradually showing its drawbacks.In addition,the outbreak of COVID-19 in early 2020 has led to the nationwide economic downturn,and the first time that China has been unable to pay for the pension,the structural change of the population and the pension rate in the next few decades will further lead to an increase in the pension gap.At present,there are still some problems in China’s pension system,such as fragmentation,complex transfer,unbalanced financial development of social security among regions,unfair competition and so on.At present,the National Pooling of pension has not been popularized.This paper is carried out from the perspective of provincial pooling.Explore the impact of changes in the overall pension system on the improvement of the basic pension market.In theory,"provincial overall planning" can optimize the labor structure and human resource allocation,reduce the inhibitory effect of excessive enterprise insurance payment rate on employment and promote employment.Therefore,combined with the provincial endowment insurance reform and improvement carried out in recent years,using the provincial panel data from 2007 to 2016 and the micro panel data of listed enterprises from 2007 to 2016,this paper constructs a two-way fixed effect model,and uses the multi-stage did method to analyze the impact of provincial endowment insurance planning on labor employment.The results show that:（1）the improvement of provincial overall planning level of pension will significantly increase the number of labor force employment of listed enterprises in reformed provinces,and the results of robustness test support this conclusion;（2）After the planning level is improved,the inhibitory effect of the actual insurance payment rate of enterprises on employment can be reduced,which is conducive to increasing labor supply and improving labor employment equity and cross regional mobility;（3）The impact of the improvement of provincial overall planning level on labor employment is significantly different between state-owned enterprises and private enterprises.They undertake different social missions.Private enterprises are significantly more sensitive to provincial overall planning policies than state-owned enterprises;（4）There are regional differences in the impact of the improvement of provincial overall planning level on labor employment.Enterprises in economically developed areas are more sensitive to provincial overall planning of endowment insurance than those in underdeveloped areas,and labor employment has increased significantly.The research of this paper helps to clarify the key factors restricting the overall planning of old-age insurance,clarify the impact of the improvement of overall planning level on the labor market,and clarify the further construction direction of other supporting systems in the overall planning reform of old-age insurance,to provide a basis for the improvement of labor employment in China.