Jobs
More of China’s White-Collar Workers Say Wages Are Falling
- 32% of respondents to Zhaopin poll say wages dropped in 2023
- Declining and stagnant wages can lead to prolonged deflation
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Nearly a third of Chinese office workers reported falling salaries last year, the highest share in at least six years, underscoring persistent deflationary pressures in the world’s second-largest economy.
About 32% of white-collar workers in China surveyed by the online recruitment platform Zhaopin Ltd said their wages dropped last year. That’s the largest proportion going back to at least 2018, according to data compiled by Bloomberg. The survey published this month suggests that more Chinese employers are holding back from increasing wages, a dynamic that can prolong deflation.