China labor market still rebounding
Print Edition
The last quarter of 2020 saw a clear and continuing improvement in China’s labor market, but there is still a big difference in the pace of job creation among industries, a new study has found.
An index evaluating job market supply and demand stood at 1.95 in the October-to-December period, the highest recorded last year, after 1.43 in the first quarter, 1.35 in the second quarter and 1.89 in the third quarter, according to a report by the China Institute for Employment Research under Renmin University of China and job-hunting website Zhaopin.com.
But the latest reading was below the 2.18 for 2019’s fourth quarter.
A CIER index reading above 1.0 means job supply outweighs demand, with below 1.0 indicating the opposite.
Compared with the previous quarter, the CIER index of intermediary services, consulting, Internet and e-commerce has increased, while that for entertainment and leisure, education and training as well as the insurance sector declined.
The strongest increase in demand for staff across the country was in mechanics, film and television/publishing and cooking, while the weakest was in public relations/media and procurement/trade.
Due to seasonal factors, the CIER index for the first quarter of 2021 is predicted to be significantly lower than that in the fourth quarter of 2020, according to the report.
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