China's Labor Market Demand in the Shadow of COVID-19

China's Labor Market Demand in the Shadow of COVID-19
Author: Xiangquan Zeng
Publisher:
Total Pages:
Release: 2022
Genre:
ISBN:

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Using data of the largest online job board in China, Zhaopin.com, we examine the impacts of the lockdown policy on the Chinese labor market demand during the coronavirus disease (COVID-19) pandemic. The analyses reveal that the lockdown policy, which was implemented in Wuhan on January 23, 2020, reduced the labor market demand drastically. Specifically, the "Number of Companies" that posted weekly job vacancies, "Number of Positions," and "Number of Employees" to be recruited reduced rapidly by 18.5%, 21.9%, and 30.0%, respectively. Furthermore, this impact of the lockdown policy began to reduce, thus allowing the labor demand to rebound four weeks after the outbreak. The heterogeneity analyses reveal that the industries with high physical proximity and those manufacturing non-essential products/services, as well as small-size firms, were greatly impacted by the policy. No statistical difference was observed between the impacts on the cities that implemented specific control measures and those that did not. This study quantifies the dynamic impacts of China's stringent control measures on the country's labor demand during the pandemic. These findings indicate that the effective management of public health crises in conjunction with economic policies is critical to revitalizing labor markets.

China’s Labor Market in the “New Normal”

China’s Labor Market in the “New Normal”
Author: Mr.Waikei W. Lam
Publisher: International Monetary Fund
Total Pages: 34
Release: 2015-07-13
Genre: Business & Economics
ISBN: 1513585401

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As China implements reforms under the “new normal,” maintaining stability in the labor market is a priority. The country’s demography and labor dynamics are changing, after benefitting in past decades from ample cheap labor. So far, the labor market appears to be resilient, even as growth slows, driven in part by expansion of the services sector. Migrant flows and possible labor hoarding in overcapacity sectors may also help explain this. Yet, while the latter two factors help serve as shock absorbers— contributing to labor market stability in the short term—if they persist, they may delay the needed adjustment process, contributing to an inefficient allocation of resources and curtailing productivity gains. This paper quantifies to what extent structural trends and the reform pace affect employment growth under the new normal. Delays in reform implementation would weaken growth prospects in the medium term, running the risk that job creation will fall below policy targets, leading to labor market pressures in the future. In contrast, successful transition might require faster reforms, including in the overcapacity and state-owned enterprise sectors, supported by well targeted social safety nets.

China's Labor Market Performance and Challenges

China's Labor Market Performance and Challenges
Author: Mr.Ray Brooks
Publisher: International Monetary Fund
Total Pages: 25
Release: 2003-11-01
Genre: Business & Economics
ISBN: 1451874812

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A more market-oriented labor market has emerged in China in the past twenty years with growing importance of the urban private sector, as state-owned enterprises have downsized. Despite the progress on reforms, a sizable surplus of labor still exists in the rural sector and state-owned enterprises. The main challenge facing China’s labor market in coming years is to absorb the surplus labor into quality jobs while adjusting to World Trade Organization (WTO) accession. This paper estimates that if annual GDP growth averages 7 percent and the employment elasticity is one-half, urban unemployment could double to about 10 percent over the next three to four years. These pressures would be limited by stronger economic growth, especially in the private sector and more labor-intensive service industries which have generated the most jobs in recent years. Therefore, policy should focus on encouraging private sector development while reducing barriers to labor mobility, improving worker skills, upgrading job search services, and strengthening the social safety net.

COVID-19 Pandemic and Global Inequality

COVID-19 Pandemic and Global Inequality
Author: Rajib Bhattacharyya
Publisher: Springer Nature
Total Pages: 356
Release: 2023-11-11
Genre: Business & Economics
ISBN: 9819944058

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The book intends to capture the most critical issue that has cropped up as an aftermath of the Corona pandemic- the phenomenon of widening of global inequalities across nations depending upon their economic position, support policies of the government and international relationship particularly in the context of alarming growth of unemployed in the labour market, business activity and social sector. This book is expected to provide new areas of research to both academicians and policy makers to re-think about global cooperation for bridging the inequalities for a better world. It tries to incorporate the valuable contribution of experts from various fields of knowledge in a consolidated volume. This text will be revised once the chapters are finalized and put together in structured themes. The table of content lists some of the chapters that have been confirmed, but there are more that are being invited by the editors.

China’s Urban Labor Market

China’s Urban Labor Market
Author: 劉洋
Publisher: Trans Pacific Press
Total Pages: 0
Release: 2013-07
Genre: Literary Collections
ISBN: 9784876982851

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In the last two decades, the expansion of China's urban labor market has gone through dynamic job creation and destruction, as well as large-scale rural-urban immigration. The marketization since the early 1980s has made great progress in the transition to a real labor market. This book offers a novel analysis of China's labor market using modern structural econometric models. The book examines the issues of the disequilibrium of labor supply and demand in China. It also looks at the impact of rural-urban immigration on the urban labor market. China's Urban Labor Market provides analyses of the economic reasons behind the high unemployment rate in China, and explains why it coexists with a shortage of workers in recent years. (Series: Premiere Collection)

Labor Demand in the Time of COVID-19

Labor Demand in the Time of COVID-19
Author: Eliza Forsythe
Publisher:
Total Pages: 0
Release: 2020
Genre:
ISBN:

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We use job vacancy data collected in real time by Burning Glass Technologies, as well as unemployment insurance (UI) initial claims and the more traditional Bureau of Labor Statistics (BLS) employment data to study the impact of COVID-19 on the labor market. Our job vacancy data allow us to track the economy at disaggregated geography and by detailed occupation and industry. We find that job vacancies collapsed in the second half of March. By late April, they had fallen by over 40%. To a first approximation, this collapse was broad based, hitting all U.S. states, regardless of the timing of stay-at-home policies. UI claims and BLS employment data also largely match these patterns. Nearly all industries and occupations saw contraction in postings and spikes in UI claims, with little difference depending on whether they are deemed essential and whether they have work-from-home capability. Essential retail, the "front line" job most in-demand during the current crisis, took a much smaller hit, while leisure and hospitality services and non-essential retail saw the biggest collapses. This set of facts suggests the economic collapse was not caused solely by the stay-at-home orders, and is therefore unlikely to be undone simply by lifting them.

Pandemics, Global Supply Chains, and Local Labor Demand

Pandemics, Global Supply Chains, and Local Labor Demand
Author: Hanming Fang
Publisher:
Total Pages:
Release: 2020
Genre:
ISBN:

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This paper studies how the COVID-19 pandemic has affected labor demand using over 100 million posted jobs on one of the largest online platforms in China. Our data reveals that, due to the effects of the pandemic both in China and abroad, the number of newly posted jobs within the first 13 weeks after the Wuhan lockdown on January 23, 2020 was about one third lower than that of the same lunar calendar weeks in 2018 and 2019. Using econometric methods, we show that, via the global supply chain, COVID-19 cases abroad and in particular pandemic-control policies by foreign governments reduced new job creations in China by 11.7%. We also find that Chinese firms most exposed to international trade outperformed other firms at the beginning of the pandemic but underperformed during recovery as the Novel Coronavirus spread throughout the world.

COVID-19

COVID-19
Author: Joshua Bernstein
Publisher:
Total Pages:
Release: 2020
Genre:
ISBN:

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