China Workers Beat GDP as Service Wages Rise: Chart of the Day
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Chinese workers are beating the system. Wages are increasing faster than world’s second-largest economy is expanding, underscoring the rising role of service jobs.
The CHART OF THE DAY tracks year-on-year growth in urban wages and nominal gross domestic product the past decade. Incomes increased more than 10 percent each of the first three quarters last year as nominal GDP, which doesn’t factor in inflation, slowed to below 9 percent.