China median income growth drops below GDP growth

Bloomberg reports that growth in China’s median income dropped below the rate of economic expansion in the first quarter for the first time since the data was first released in 2014. Back then, the median grew at almost double the pace of total output. China’s gauge of median personal income grew at 6.7% in the first quarter, less than the 6.9% economic expansion, according to data from the National Statistics Bureau last week. According to a survey released Monday by Zhaopin.com, one of China’s major recruitment sites, some 42% of middle-class respondents said they felt most pressured by lower-than-expected income. It surveyed about 50,000 white-collar workers nationwide, almost all earning an annual income of between 50,000 yuan (about $7,260) and 500,000 yuan. As many as 95% of the respondents said they feel worried, with 33% saying they worry very often.