Labor Shortage in China? How Can That Be?
Yes, it appears that there is a movement growing (or shrinking in this case) within the total Chinese labor force of about 800 million. China’s labor force is almost twice that of America, the EU and Japan combined and more than one third is made up of migrant workers from rural China. The dramatic increase in wages, over a 19% increase, in the past four years, strongly indicates that China is running out of surplus labor. Also with the country’s one child policy, first introduced in 1979, playing an important role in causing the labor supply to slow down,this combination is creating the impending shortage.The population of working age people is expected to grow at +0.7% a year until 2015 and then shrink by -0.1% a year until 2025. (As reported by SIA, the Staffing Global Advisor) Will more jobs return to America? It is happening now.
