China Speakers Bureau: Growing gap in China's labor market

Zhang Juwei by Fantake via Flickr

Assessing China's labor market has become a tidbit more complicated at shortages grow dramatically in for example the export industry, while fresh graduates from universities still have a hard time finding a decent job. Those discrepancies in the labor market might growth in the foreseeable future, says Zhang Juwei of the China Academy of Social Sciences to the China Daily:

The labor shortage problem will also continue in the long term as hiring demand will surge continuously, said 51job, a well-known online employment service company in China.

According to one of its polls in 63 major cities, the ratio of vacant positions to applicant numbers reached 0.98 in April this year from 0.85 in 2009.

"The labor shortage, together with the contradiction that many businesses cannot find employees when many are jobless, would become a permanent phenomenon in our society," said Zhang Juwei, professor and director of the labor and social security research center at the Chinese Academy of Social Sciences.

He said the increased hiring enthusiasm in the third and fourth quarter of this year would widen the gap, considering that the nation's economy is recovering rapidly and the new workforce pool is decreasing.