Zhaopin Limited is a leading career platform in China focused on connecting users with relevant job opportunities throughout their career lifecycles, and the China Institute for Employment Research (CIER) at Renmin University released the CIER Employment Index Report for the fourth quarter of 2016. The labor market in China maintained its upward trend as the CIER index reached its highest level since the first quarter of 2015, providing a favorable environment for job seekers.
Based on data from Zhaopin's online 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. Jointly published by Zhaopin and the CIER at Renmin University, the CIER index has become a leading barometer of China's labor market and macro-economic environment.
The CIER index score is calculated by dividing the number of job vacancies during a specified period by the number of unique job seekers during the same period. A CIER index score of more than 1 indicates that the labor market is booming, with more vacancies than job seekers. A CIER index score of less than 1 indicates that the labor market competition is intensifying, with more job seekers than available vacancies.
China Labor Market- China Fourth-Quarter 2016 Highlights
The China labor market kept its upward momentum in the fourth quarter of 2016 with the CIER index reaching 2.41, the highest since the first quarter of 2015, compared with 2.22 in the third quarter and 1.93 in the second quarter of 2016. This is an indication of bright prospects for those seeking new employment.
Internet and e-commerce continued to be the best-performing sector and energy/ mineral/ mining/ smelting remained the worst-performing sector.
Except for Northeast China, the CIER index for all other regions improved in the fourth quarter from the third quarter of 2016.
Micro-sized companies (companies with fewer than 20 employees) had the highest CIER index score of 2.10 in the fourth quarter of 2016, followed by 1.81 for large companies (companies with more than 10,000 employees). However, the CIER index is very likely to decline in the first quarter of 2017.
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