The labor market in China kept its upward momentum in the fourth quarter of 2016 with the China Institute for Employment Research (CIER) Employment Index Report reaching 2.41, the highest since the first quarter of 2015, compared with 2.22 in the third quarter and 1.93 in the second quarter of 2016.This is an indication of bright prospects for those seeking new employment.
The CIER Index is co-published by Zhaopin Limited.
Internet and e-commerce continued to be the best-performing sector and energy/mineral/mining/smelting remained the worst-performing sector.
Except for Northeast China, the CIER index for all other regions improved in the fourth quarter from the third quarter of 2016 Micro-sized companies (companies with fewer than 20 employees) had the highest CIER index score of 2.10 in the fourth quarter of 2016, followed by 1.81 for large companies (companies with more than 10,000 employees).
The CIER index is very likely to decline in the first quarter of 2017.
CIER Index Reaching All Year High in the Q4 of 2016
The job market in China had been on a declining trajectory in 2015 as the economic growth slowed down.
With the overall economy improving in 2016, the job market reversed its declining trend and started to move upward since the second quarter of 2016.
The momentum continued in the fourth quarter with the CIER index reaching 2.41, the highest level since the first quarter of 2015, compared with 2.22 in the third quarter and 1.93 in the second quarter of 2016.
Excluding the effects of seasonality and changing demographics, which have traditionally resulted in a long-term rise in the CIER index scores, the quarterly adjusted CIER index for the fourth quarter of 2016 showed a significant increase, indicating the continuing improvement in China's labor market.
According to Zhaopin's data, total online recruitment demand increased by 43% year-over-year in the fourth quarter of 2016, compared with a 35% year-over-year growth in the third quarter of 2016. As the economy improved, the labor market in China had gained momentum in the fourth quarter with increasing job demand year-over-year.