THE
coronavirus outbreak is severely weakening China's job market, with the number of new positions on offer shrinking by 27 per cent in the first
quarter of the year, led by
recruitment cuts among exporters and foreign enterprises, a study from China’s Peking University shows, reported Hong
Kong's South China Morning Post.
The study, which tracked 23 million new job posts on Chinese recruitment site Zhaopin.com, is a fresh warning about China's economic future,
including its role in the global economy and prospects for young jobseekers
amid the Covid-19 pandemic.
The Peking University study,
which was released this week, showed that recruitment ads in China's
entertainment and services sector fell by more than 40 per cent from a year
earlier, followed by smaller declines in education, sports, information
technology and finance.
Small businesses are China’s
biggest job creators, but the study showed fewer were hiring in the first
quarter.
Source : HKSG / Photo : China Daily.
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