China’s economic growth unable to boost employment as job market drops to six-year low, says think tank
- In the first quarter of 2019, the number of potential applicants rose to the highest level since 2011, while demand for staff declined
- China Institute for Employment Research at the Renmin University of China in Beijing calls for government to introduce more stimulus measures
Despite better-than-expected economic growth in the first quarter, China’s job market performed at its worst level in six years at the start of 2019, according to an industry report published on Friday.
The number of jobs seekers normally rises during January to March when many workers look to change jobs and college graduates start looking for career opportunities after their graduation.
However, in the first quarter, the number of potential applicants rose to the highest level since 2011 while demand for staff declined, according to the China Institute for Employment Research (CIER) at the Renmin University of China in Beijing.
This meant that the ratio of open positions to job applicants fell in the first quarter to 1.68, its lowest level since 2014, the CIER said, using research based on data from job recruitment site Zhaopin.
“The 2019 first quarter data showed increasing pressure from weak demand in the economy on employment. It has been on a straight fall for six quarters consecutively, showing increasing pressure from weak demand in the economy on employment,” CIER said.