Some Economists Question Strength of China’s Labor Market

The U.S., reeling from the coronavirus, has suffered its worst surge in unemployment considering that the Great Depression. By contrast, the pandemic has barely touched China’s official jobless fee, which inched up from 5.three% in January to just six% most just lately.

The fact on the ground appears to be even worse. Numerous folks in China have returned to do the job as the pathogen subsides, but anecdotal evidence and economists’ calculations advise that China’s labor sector is in even worse shape than official govt information demonstrate.