Labour Market News
- China's labor power claimed to be in short supply in 2 years
Date: 15-May-2007 Sources: (People's Daily)
Surplus labor power in rural areas is less than expected, the Chinese Academy of Social Sciences (CASS) notes in a report recently. China has been shifting from an era of excessive labor power to a labor power shortage, with its turning point likely to occur in the 11th Five-Year Plan (2006-2010) period and, to be spefic, it could be in 2009.
According to the 'China Employment Growth and its Structural Change' released by Cai Fang, director of the Institute of Population and Labor economics under CASS, a rural surplus labor force constitutes the leading resource of China's labor market. The overall viewpoint at present is that there is almost one-third of the rural workforce is in surplus, with its absolute number standing at somewhat 100 million to 150 million, and this figure, nevertheless, is inaccurate. Relevant researches show the absolute number of rural surplus labor power under the age of 40 is 52.12 million, quite a disparity from the surplus proportion of the 1/3. So the report acknowledged that China's current labor supply structure is being shifted from the surplus to the labor power balance, even to the labor force shortage at times.
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