The China labor market has stabilized in the second quarter, with confidence up slightly from the first quarter, according to the China Institute for Employment Research (CIER) Employment Index Report for the second quarter of 2016.
The report highlights that the CIER index rose to 1.93 in the second quarter, from 1.71 in the first quarter.
The CIER index for the best-performing sector, internet and e-commerce, was almost 47 times that of the worst-performing sector, energy/mineral/mining/smelting.
Driven by the new economy, sectors including internet/e-commerce, funds/securities/futures/investment, and traffic/transportation are growing rapidly, creating robust job demand.
Recruitment demand in the traffic/transportation sector increased by 58% year-over-year, the fastest growth rate among all sectors.
About 40% of recruitment demand was in first-tier cities, 28% in emerging first-tier cities and 20% in second-tier cities.
With government support for innovation and entrepreneurship, micro- and small-sized companies will continue to be the driving force in the labor market.
The CIER index will most likely go up in the third and fourth quarters, due to seasonal factors and the long-term demographic trend.