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China – Labour market demand improves in fourth quarter
By memberservices@staffingindustry.com (Danny Romero)
Zhaopin Limited, a Chinese career platform, and the China Institute for Employment Research (CIER) at Renmin University have released the CIER Employment Index Report for the fourth quarter of 2016.
The report showed that the labour market in China kept its upward momentum in the fourth quarter of 2016 with the CIER index reaching 2.41, the highest since the first quarter of 2015, compared with 2.22 in the third quarter and 1.93 in the second quarter of 2016. This is an indication of bright prospects for those seeking new employment.
According to Zhaopin’s data, total online recruitment demand increased by 43% year-over-year in the fourth quarter of 2016, compared with a 35% year-over-year growth in the third quarter of 2016. As the economy improved, the labour market in China had gained momentum in the fourth quarter with increasing job demand year-over-year.
The Internet and e-commerce continued to be the best-performing sector with a CIER index of 10.89, up from 7.28 in the third quarter. Meanwhile, energy/mineral/mining/smelting remained the worst-performing sector.
The CIER index for all other regions improved in the fourth quarter from the third quarter of 2016, with the exception of Northeast China. Eastern China had the highest CIER index score of 2.07. Among all regions, Central China saw the fastest increase in job demand at 73% in the fourth quarter year-over-year.
Northeast China was still the lowest with a CIER index score of 1.40 in the fourth quarter of 2016, the same as the third quarter. The government has recently introduced new initiatives to rejuvenate the economy in Northeast China. The job demand in the region increased by 59% in the fourth quarter year-over-year, higher than the 35% growth in the third quarter.
Micro-sized companies (companies with fewer than 20 employees) had the highest CIER index score of 2.10 in the fourth quarter of 2016, followed by 1.81 for large companies (companies with more than 10,000 employees).
Looking to the future, the CIER index is very likely to decline in the first quarter of 2017 with seasonality factors, the long-term demographic trend and cyclical considerations.
Source:: China – Labour market demand improves in fourth quarter
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