Chinese Workers Confront Good News/Bad News Scenario
‘Grim’ economic prospects not expected to brighten soon, but employment projections appear on target.
By Garry Kranz Comments 0 | Recommend 0
China Syndrome: Not even employees in China, which boasts the world’s
fastest-growing economy, are insulated from the current financial malaise. In
remarks attributed to him by the People’s Daily newspaper, Yin Weimin, China’s
human resources and social security minister, says conditions already are “grim”
and will worsen before they improve. Chinese government officials reportedly are
concerned that the economic woes could spark smoldering labor unrest. The
newspaper says Yin expects economic difficulties to persist through at least the
first quarter of 2009. Nevertheless, more Chinese appear to be landing jobs this
year. Yin said projections of job growth in China are on target, noting 10.2
million people joined the labor force through October, about 200,000 more than
were projected, according to the newspaper.
Workforce Management contributing editor Garry Kranz is based in Richmond, Virginia. E-mail editors@workforce.com to comment.
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