La­bor mar­ket shrinks slightly

China Daily (Canada) - - FRONT PAGE -

China’s la­bor mar­ket shrank slightly in the sec­ond quar­ter, as the wider econ­omy con­tin­ued to sta­bi­lize and re­cover, ac­cord­ing to a re­port that pre­dicted jobs would re­bound slowly through De­cem­ber.

The re­port, jointly re­leased by online re­cruiter Zhaopin and the China In­sti­tute for Em­ploy­ment Re­search, uses an in­dex de­vel­oped by the in­sti­tute to mon­i­tor the trend of the la­bor mar­ket. The smaller the CIER In­dex is, the more com­peti­tors there are for job va­can­cies and the more in­ten­sive the la­bor mar­ket is.

Reach­ing 2.46 in the first quar­ter — its high­est point since 2011 — the in­dex saw a slight de­crease to 2.03 in the sec­ond quar­ter. The re­port at­trib­uted the de­crease to the macroe­con­omy.

Fi­nan­cial and In­ter­net in­dus­tries topped the list with strong de­mand for work­ers based on the CIER In­dex, while the tra­di­tional ser­vice sec­tor and man­u­fac­tur­ing in­dus­try have more job ap­pli­cants than job va­can­cies.

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