The traditional drivers of China’s economy are slowing, and it is showing up in the country’s employment market.
Quanton Data, a firm which focuses on structuring big data and identifying data sets that could help investors make money, has put together a database of job postings from over a hundred different job boards serving China.
The data goes back four years.
According to a September report, manufacturing job postings in the country are crashing.
“Our Manufacturing Job Posting Index continues its multi-year decline reaching a new low in August, mainly driven by continued strong downward trends in Energy and Materials postings.”
Consumer staples postings have also dropped, falling in September for the seventh straight month.
The index echoes evidence elsewhere that the traditional drivers of China’s economy – manufacturing and property – are slowing fast.
Alcoa on Thursday downgraded its expectations for all but one of its major segments in the world’s second-largest economy. Caterpillar, a global bellwether for industrial investment and development, announced layoffs and a reduction in its expectationsfor equipment sales, citing a “a convergence of challenging marketplace conditions.”
UK-based JCB, which competes with Caterpillar, said it would cut jobs after the market in China had dropped by almost half in the first six months of the year.
Here are the key findings from Quanton Data’s September report.
Quanton Data’s manufacturing job posting index has been falling for years
- Quanton Data
Job postings in the consumer staples, energy, industrials and materials sectors are all down from last year
- Quanton Data