China’s economy is going through a momentous structural transition, and, in tandem, so is its labor market. A stable labor market is essential to minimizing the social and economic risks associated with structural adjustment, specifically unemployment and income pressures.
In our Quarterly Labor Market Update, we systematically review available data sources and critically assess their coverage and limitations, to outline an accurate picture of key labor market trends in China – both short- and long-term.
In Q1 2019, most indicators point toward increasing pressure on job growth. Although official PMI employment sub-indexes suggest a slight upturn, Q1 2019 data on urban job creation, unemployment, and white-collar labor demand indicate intensifying pressure on job growth. Job search indicators suggest ongoing public anxiety regarding layoffs in late 2018.