By Martin Gøttske
China’s labour market remains tight and unemployment low. And yet wages growth isn’t reflecting that strength. White-collar pay edged down in the second quarter relative to the first quarter and pay rises for the nation’s 281 million migrant workers also narrowed.
While conditions like these may be good for companies’ payroll costs, they also give less spending power to consumers who play an increasingly crucial role in generating economic growth.
Data show white-collar paychecks in 37 major cities dropped to a monthly average of 7,376 yuan, the first quarter-over-quarter decline on record.
South China Morning Post: