Jobseekers in China were facing more pressure in 2018 than in 2017. In the fourth quarter of 2018, the demand for labour dropped 12% year-over-year, while the number of job seekers rose 8%, according to a report from career platform Zhaopin and the China Institute for Employment Research (CIER) at Renmin University of China.
The CIER Employment Index Report for Q4 showed a CIER index of 2.38. This meant there were 2.38 job vacancies for each unique job seeker in the fourth quarter of 2018, lower than in the fourth quarter of 2017 when the index was 2.91.
When compared to the previous quarter, demand for labour jumped 25.4%, while the number of jobseekers increased by 3.9%.
According to the report, the fourth quarter is usually a low season for job seekers.
The education/training/college sector became the best-performing sector in the fourth quarter of 2018 with a CIER index of 8.33. The sector witnessed a job demand surge of 24% year-over-year in the fourth quarter of 2018, and the demand in first-tier cities soared 32% compared to the same period in 2017.
The worst-performing sector was the aerospace research and manufacturing sector in the fourth quarter of 2018.
Meanwhile, the best-performing occupation in the fourth quarter of 2018 was mechanic/operator, while the worst performing occupation in the fourth quarter of 2018 was senior management.
The CIER indexes for companies of all sizes decreased in the fourth quarter of 2018 compared to the same period of 2017.
Looking ahead, the report stated that the CIER Index for the first quarter of 2019 is projected to drop from the fourth quarter of 2018, and is very likely to be below the level in the first quarter of 2018.
Based on data from Zhaopin’s online recruitment platform, the CIER index tracks the ratio changes between job vacancies and job seekers in a variety of industries and cities across the country, and identifies the overall trend in China’s employment market.