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China’s Slower Economy Still Working for Jobs
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China's jobs situation is holding up better than expected with lower levels of economic growth. In 2014 there were 115 job openings for every 100 applicants, according to an official labor survey. Part of the reason is that the services sector is playing a larger role in growth. The services sector contributed 3.8% to growth in 2014, compared to the slower growing manufacturing sector, which contributed 3.0 percentage points. With problems in heavy industry and real estate this is reducing the need for larger stimulus spending. Official figures for GDP growth in 2014 are 7.4%.
China's smaller, focussed and carefully balanced stimulus in April 2014
04/03/2014
With surging credit growth this stimulus is smaller, and being financed by the federal government which has more leeway than local governments burdened with debt. The carefully calibrated credit growth is seen as a smaller risk- as China's credit growth has reached bubble proportions- than letting the economy grow below about the 7% needed to create 10 million new jobs. The investments are focussed on railways in southern and western China to support new export based industries, and on low income housing for shantytowns. This gives a chance for poorer regions and poorer sections of the population to catchup as the focus shifts to reforms, and new emphasis on pollution and other indicators of better living conditions.
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China Stimulus Puts New Focus on Growth Target
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China's Economy Stumbles Into Stimulus
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China's Central Bank Injects $81 Billion Into Top Banks to Counter Slowdown
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Heard: China's Stimulus Has Short Legs
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Chinese debt: The great hole of China
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China's jobs situation, unemployment, stimulus and growth strategies in 2012-2015
06/04/2012
The excess demand for labor in China in 2012 compared to the excess supply of labor during the global financial crisis of 2008-2009. This has implications for stimulus spending plans, with the measured and selective response in 2012. Another factor is inflation with a 20% rise in wages in the manufacturing sector in 2011, according to the China statistics bureau, so that a large stimulus risks losing the benefits onf anti-inflationary steps taken in 2011-2012. High growth was intended to keep social stability, with excess demand for labor in 2012 this is less of a priority.
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Strains Show in China's Job Market
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U.S. Stocks Shrug at China's Woes
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I.M.F. Tells China of Urgent Need for Economic Change
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Wall Street Journal 03/05/2014
In China, Beijing Fights Losing Battle to Rein In Factory Production
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Chinese Steel Expert- N Way Out for Mills Caught in Crackdown
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Lower unemployment and tight labor markets in China in 2012, 3 years after the 2008-2009 global financial crisis
06/04/2012
Grouped Articles
China's Workers in No Need of Stimulation
Wall Street Journal 06/04/2012
Wall Street Journal 03/05/2014
China’s Slower Economy Still Working for Jobs
Wall Street Journal 01/21/2015
Workers shunning factory jobs in China because of unstable living environment and difficulties in raising a family
05/29/2010
Grouped Articles
China: A Billion Strong but Short on Workers
Wall Street Journal 05/02/2013
China Manufacturers Survive by Moving to Asian Neighbors
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China Factories Try Karaoke, Speed Dating to Keep Workers
Wall Street Journal 05/03/2013
Hon Hai to Add Robotics in China
Wall Street Journal 08/03/2011
Strains Show in China's Job Market
Wall Street Journal 06/11/2013
The Demanding Off-Hour Escapes of Chinaâs High-Tech Workers
New York Times 07/16/2013
Unemployment in China 2013-2015
03/05/2014
Grouped Articles
Wall Street Journal 03/05/2014
China’s Slower Economy Still Working for Jobs
Wall Street Journal 01/21/2015
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