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July 24, 2019

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Job market stability in April-June period

China’s labor market improved slightly in the second quarter of 2019 compared with the first three months, as the number of job vacancies outpaced the increase of job seekers, a new industry report said yesterday.

Jointly released by Zhaopin Ltd, a domestic career platform, and the China Institute for Employment Research at Renmin University of China, the report found the labor market stabilized from April to June, with the CIER index up to 1.89 from 1.68 in the first quarter.

The rally was attributed to a significant growth in labor demand. The number of job vacancies jumped 15.7 percent quarter over quarter, 2.7 percentage points more than the increase of job seekers, according to the study.

The index, however, maintained at the almost same level compared with a year ago.

By sectors, the intermediary service sector posted the best performance, with a CIER index of 5.86 and the IT/Internet industry remained the fifth best-performing one in the reporting period.

The finance sector, nevertheless, continued to contract in both supply and demand. The overall quarterly job demand in the area decreased 37 percent year over year in the second quarter.

Purchasing power

By contrast, the hotel/restaurant sector experienced a 22.9 percent increase in job demand in third-tier cities, as people there are enjoying growing purchasing power.

Notably, the travel/vacation and testing/detection/authentication sectors were back on the list of ten worst-performing sectors.

Sectors like printing and farming experienced a decrease in job demand but a rise in the number of job applicants, bringing down the CIER indexes.

Meanwhile, the gap between the best-performing sector and the worst-performers narrowed, the report noted. The CIER index of the best-performing sector was 15.4 times better than that of the worst performers, compared with 21.6 times in the previous quarter.

The job market in the Yangtze River Delta and Pearl River Delta continued to perform better than Beijing-Tianjin-Hebei.


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