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Fewer companies in China are planning to hire
Published on: 2019-03-14
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011Hiring prospects have worsened in China, recruitment firm Manpower Group found in its latest survey.

A net 6% of firms surveyed plan to increase hiring between April and June - the lowest since the third quarter of 2017, the data showed. Tuesday's survey also showed a drop from the more optimistic 10% in the first quarter of this year, indicating that the brief pickup from a slowdown in 2018 has yet to prove its sustainability.

More employers were uncertain about the next three months, with that number jumping to 43% from 19% in the prior quarter. The survey covered 4,209 companies of different sizes in China.

010Making sure people have jobs is a growing worry for the Chinese government as it tries to manage a slowing economy and cinch a trade deal with its biggest trade partner.

During the opening of China's largely symbolic National People's Congress last week, Premier Li Keqiang announced that ensuring employment would become a priority for national policy for the first time. At that meeting, Li also gave an economic growth target of between 6% to 6.5% - slower than last year's 6.6% - and noted the negative impact from trade tensions with the U.S.

Workers are seen at a production line manufacturing solar photovoltaic components at a factory in HuzhouTariffs and uncertainty on trade have particularly hit some export-related companies in Guangdong, a researcher at China's State Council said in late February. He added that the government must make sure people have jobs in order to ensure social well-being and consumption, which is critical for the economy.

Consumer spending now accounts for 76% of China's growth, according to official reports.

However, consumers may be less willing to spend as uncertainty grows about their job security and wage growth.

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