Migrant workers who look for jobs in cities in China
are now leaving the cities and going back to their home towns as jobs
losses mount amid economic slowdown. This wave of migrant workers
leaving cities emerges for the first time since the financial crisis
2008/09.
Read more: http://feedproxy.google.com/~r/AlsosprachAnalyst/full/~3/nFnj5zE1mas/migrant-workers-in-china-are-moving-back-to-home-as-job-losses-mount.html#ixzz21Uknjj6q
A lot of migrant workers who were originally living in rural areas move to urban cities of China
for jobs opportunities. The big surplus of workers from this source
drove economic growth in the past decades. Although demographic
projection suggests that labour force will stop growing, which seems to imply labour shortage rather than surplus, job creation is a bigger task for the time being as the economy slows.
China Securities Journal reports
that a lot of migrant workers are either preparing to go back home or
have already done so. Traditionally, these workers go back to home
before the Chinese New Year holiday, but this year is difference.
According to the Journal, factory workers and construction workers from
rural areas have left their urban homes in Zhejiang, Jiangsu and other
provinces as jobs losses increase.
Export sector is obviously one of the
hardest hit as the lingering European recession destroyed external
demand, and to many companies, they are facing situation that is already
worse than the financial crisis in 2008/09. Construction workers are
another group of migrants who are most affected by the current economy slowdown as real estate
investment cools. Migrant workers return to their rural homes and are
obviously unable to look for jobs of a similar kind. As a result, some
of these workers started farming.
Read more: http://feedproxy.google.com/~r/AlsosprachAnalyst/full/~3/nFnj5zE1mas/migrant-workers-in-china-are-moving-back-to-home-as-job-losses-mount.html#ixzz21Uknjj6q
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