Wednesday, May 8, 2013

China Quake Zone Absent Men Show Labor Supply Curbing Growth

China Quake Zone Absent Men Show Labor Supply Curbing Growth - Bloomberg

"“The engines powering China’s rapid growth over the last three decades, including labor supply, are weakening,” said Chang Jian, a Hong Kong-based economist at Barclays Plc who formerly worked for the World Bank. The long-term growth rate of 8 percent “once regarded as a bottom for China is now increasingly a ceiling.”

The number of Chinese employed in agriculture fell to 265.9 million in 2011 from 364 million a decade earlier, with the proportion of the labor force dropping to 34.8 percent from 50 percent, even as the broader workforce has expanded, according to the most recent figures from the National Bureau of Statistics. The working-age population share in rural areas was about 71 percent in 2011, compared with 80 percent in cities, government data show."

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