Labor market recovery continues to improve
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 Q1, 1.35 In Q2 and 1.89 in Q3, according to a report by the China Institute for Employment Research (CIER) under Renmin University of China and job-hunting website Zhaopin.com.
However, the latest reading was below the 2.18 for 2019’s Q4.
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 insurance sector declined, the report noted.
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.
Large enterprises enjoyed more popularity among job seekers.
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, the report added.