Job Market Monitor
China
US – Import competition from China reduces manufacturing employment St-Louis Fed finds
In theory, trade is good. In practice, considerable debate exists on whether importing foreign goods has an adverse effect on the domestic economy (and on the labor market in particular). The impact of this effect depends on whether foreign goods compete with or complement local production. For example, if imported computers can easily substitute for … Continue reading
China – A “Jingying” (elite) job-search platform
Market leader 51Jobs.com is investing heavily in a new aggressive strategy. In February, presumably in an attempt to move into the area of executive recruiting, it launched the beta version of 51JingYing.com, a job-search platform that targets the higher end of the recruitment spectrum and provides a platform to connect headhunters and more experienced workers. … Continue reading
China’s Skills Gap – Causes a sizeable share of graduates to take up jobs unrelated to their studies
The skills mismatch, defined as the difference between skills demanded by employers and those available in the market, can be captured using the MyCOS survey data based on the answers of over 150 000 graduates in 2013, six months after graduation. The survey asked graduates to judge whether a certain skill type is important for … Continue reading
China – Employment held up despite slower economic growth Vice Minister of Human Resource and Social Security says
China said on Friday that urban employment held up in the first quarter even as economic growth slowed to a 6-year low, but the labor ministry warned that authorities cannot be “blindly optimistic” as the pace of job creation is slowing. The urban unemployment rate was at 4.05 percent at the end of March, little … Continue reading
China – Increasing numbers of foreigners are making their way in
China’s place in the global migration order has been transformed by three decades of rapid economic development. Policies to reform and open the country initiated in 1978 accelerated Chinese emigration and internal migration towards the industrialized coast. While these flows remain important, another trend has gained momentum: Increasing numbers of foreigners are making their way … Continue reading
Yahoo in China – To cut “around 350” jobs while closing
Internet giant Yahoo is closing its China office as part of a worldwide consolidation aimed at cutting costs. The Beijing research centre is Yahoo’s only remaining physical presence in the country after it sold its Chinese operations to Alibaba in 2005. A spokesperson said “around 350 jobs” would be eliminated. “We are constantly making changes … Continue reading
Microsoft in China – To cut 9,000 Nokia jobs
Microsoft Corp. plans to shut two mobile-handset manufacturing plants in China formerly run by Nokia Corp., cutting about 9,000 jobs in total, various reports said Thursday. Microsoft, which bought Nokia’s handset business last April, scheduled the closure of the plants — located in Beijing and the southeastern city of Dongguan — earlier this month and … Continue reading
Chinese Emigrants – A Map
Approximately one-quarter of all Chinese emigrants settle in the United States, with other popular destinations including Canada (896,000), South Korea (657,000), Japan (655,000), Australia (547,000), and Singapore (457,000), according to mid-2013 estimates by the United Nations Population Division. Around half of Chinese immigrants obtain lawful permanent residence in the United States (also known as receiving … Continue reading
Education System in China – Could better serve its industry and economic development
China should reform its education system to better serve its industry and economic development. And the public should eliminate their discrimination against blue-collar workers… A doctorate graduate in electronic engineering from Tsinghua University who took a job as a blue-collar electrician in Shanghai stirred wide debate on the value of academic qualifications in modern China. … Continue reading
Volkswagen in China – Aims to create about 5,500 new jobs at its new component plant
Located in the Tianjin Economic Technological Development Area (TEDA) in North-East China, the plant is the 107th of the Volkswagen Group and has been built at an initial investment of 265 million (RMB 2.2 billion) to boost economic activity in Northern China. By 2019, it aims to create about 5,500 new jobs in the region. … Continue reading
China – An increase in the minimum wage leads to a small decline in employment research finds
Our study is the first to use data on minimum wage changes for over 2400 counties in China. We combine the information on minimum wages changes with employment data from the Annual Survey of Industrial Firms, which covers over 70 percent of China’s manufacturing employment. While China instituted a minimum wage system in 1994, enforcement … Continue reading
China – 42.8 Percent believe the job market faces “a severe situation”
Many mainland residents may not be as confident as Premier Li Keqiang in the prospects of the job market, a survey conducted by the People’s Bank of China indicated.In the third-quarter survey carried out by the central bank with urban depositors, 42.8 per cent of residents believe the job market faces “a severe situation” while … Continue reading
Wealthy Chinese – Almost half of want to leave
Nearly half of wealthy Chinese are planning to move to another country within the next five years, according to a new Barclays survey. The survey, which questioned more than 2,000 high net-worth individuals with more than $1.5 million in total net worth, found that 47% of Chinese respondents said they want to move, compared with … Continue reading
India to China – Set up manufacturing units
India today asked China to invest in setting up manufacturing units in the country to bridge the widening trade deficit and create jobs in the country. Commerce and Industry Minister Nirmala Sitharaman said India has signed an agreement with China in June to set up Chinese Industrial Parks in India. “We are expecting Chinese to … Continue reading
China’s Middle-Income Trap – Productivity goes negative
Chinese productivity growth has gone into reverse for the first time since the Cultural Revolution tore the country apart in the 1970s, according to a new study…That means that despite dramatic rises in the cost of labor, energy, credit and property, the average Chinese company has actually been getting less bang for its buck since … Continue reading
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