China Wages Snap Three-Quarter Slide, Signaling Upturn in Labor
- New hires see fastest wage rise since 2022, survey finds
- Shanghai survey finds employment conditions improved
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Wages offered to new hires in China snapped three quarters of decline in the first three months of this year, suggesting an improvement in the labor market that could boost consumer spending in the world’s second-largest economy.
Average monthly salaries offered by companies to new recruits in 38 key Chinese cities rose 2.2% from a year before to 10,323 yuan ($1,426), according to data from online recruitment platform Zhaopin Ltd. compiled by Bloomberg. That was the first increase recorded since the start of 2023.