26 April 2019

China faces chronic labor glut, CNS says

China faces chronic labor oversupply as the economy grows in single digits, China News Service reported Thursday, citing a study by the Social Sciences Academic Press, the publishing wing of the Chinese Academy of Social Sciences. Urban labor supply is expected to top 24 million a year while new jobs are forecast at 12 million. Structural issues in the labor market have worsened with a serious shortage of high-tech talent, the report said.

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