Survey shows weak Q4 employment outlook

A new survey of employers in nine major Chinese cities shows a weak outlook for the fourth quarter of 2008, Reuters reported. A poll of 4,014 employers by Manpower Inc gave the country’s net employment outlook for the fourth quarter as 12%. The figure, which measures the difference between the creation and elimination of jobs, indicates net job creation, but is down 3 percentage points from the third quarter, and down 1 percentage point from the fourth quarter of 2007. The company said the service sector was most likely to experience a reduction in new jobs, as companies eliminate temporary service positions after the Olympics. However, post-quake reconstruction efforts and government policies to stimulate the economy could lead to a boost in new jobs in China’s west, the company said.