Business / Employment

Employment market sees continuous depression

(China Daily) Updated: 2012-08-27 10:24

Employment market sees continuous depression

The employment market in China continues to be in a depression according to the HSBC China Manufacturing Purchasing Managers' Index. It dipped to 47.8 for August from July's 49.3, continuing a 10-month string of results below the 50 level, which separates growth from contraction, according to The Wall Street Journal. The PMI is a preliminary gauge of manufacturing industry and hiring. The PMI survey's employment sub-index was 47.7 in August, almost the same as July, showing that firms are laying off workers for the sixth consecutive month.

DORSONN: In Dongguan, Guangdong province, many enterprises still find it hard to recruit enough employees.

GRACERYH: It is unlikely the economy will survive long if it simply depends on the financial and property markets when manufacturing is showing continued weak activity.

ILOVEOLDPIG: I think it is time to show concern for private enterprises because large-scale job cuts happen most among them. The private companies used to account for 70 percent of the nation's employment market. They've long suffered the dilemma of having trouble financing and paying higher taxes. If the government still doesn't help them out of the difficulty, then all the graduates will have to apply to be civil servants.

FUYUBULUO: The employment issue should be put top of the agenda before tax and expenditure reductions.

A-KEY-A: The enterprises should do their utmost to safeguard employees' welfare and benefits and society should act to prevent enterprises from taking all the responsibilities and risk.

POWERXIAODADA: I think the employment market might further tighten.

TAOYUANCAPTAINJACK: It's no wonder that the stock market tumbled today.

MA_SHU: Small and medium-sized enterprises make up almost 80 percent of the country's working population. The unemployment tide is inevitable while the enterprises are struggling and in a dilemma.

All the information is from Sina Weibo.

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