Versuchen GOLD - Frei

Why More Chinese Workers Are Settling For Less Pay

Mint Mumbai

|

January 29, 2024

For many people in China these days, getting a job a good one that pays enough is.

- Stella Yifan Xie

Why More Chinese Workers Are Settling For Less Pay

With the economy in a funk and deflation settling in, many people are having to settle for jobs beneath their skill levels, often with reduced pay. That is making it harder to make ends meet, depressing consumer spending and leaving many people frustrated in careers they fear are going nowhere.

In Beijing, Kang Deqiang spent much of the past two decades working as a marketing executive for Chinese media firms, until his last employer, a media outlet focused on railroad travel, went out of business during the pandemic.

Now he manages a dormitory building at a local college, a job that pays only about $500 a month after taxes-about 20% of what he earned at his peak. He also moonlights at a coffee shop in the evenings for about $3.80 per hour.

He says he took the dormitory job in September because he has a $770-a-month mortgage, and had been searching for full-time work for months without success. At least his commute is shorter, he said.

"There isn't anybody who doesn't like a high-paying job. But the economy is going downhill. I have to settle for the next best thing," said Kang, who is 41.

Many employers that used to hire aggressively are in retreat. The property market is in a multiyear downturn, exports are weak, and local governments are saddled with debt. Government crackdowns on the private sector have led many companies to rein in risktaking, while foreign firms, spooked by geopolitical tensions, are cutting investment in China.

Officially, the unemployment rate in Chinese cities was 5.1% in December. While that is higher than the U.S. unemployment rate of 3.7%, it is still relatively low, and better than the full-year average rate of 5.6% in 2022.

However, economists have long raised questions about China's official unemployment report, which only covers urban dwellers, and counts anyone who works an hour or more in a week as fully employed.

WEITERE GESCHICHTEN VON Mint Mumbai

Mint Mumbai

In a sea of tech talent, companies can’t find the workers they want

There has rarely, if ever, been so much tech talent available in the job market. Yet many tech companies say good help is hard to find.

time to read

4 mins

October 03, 2025

Mint Mumbai

Mint Mumbai

Hexaware sued for $500 million in US over patent breach

American IT services firm Natsoft Corp. has sued Hexaware Technologies Ltd for breach of contract and patent infringement, seeking $500 million in damages from the latter, in one of the biggest patent cases against an Indian IT firm.

time to read

3 mins

October 03, 2025

Mint Mumbai

GST boom ahead?

India's latest goods and services tax (GST) revenue figures paint an optimistic picture.

time to read

1 min

October 03, 2025

Mint Mumbai

H-1B clampdown may extend to US college faculty

Rising anti-immigration sentiment in the US is no longer confined to moves to limit foreign technology workers from entering the country.

time to read

2 mins

October 03, 2025

Mint Mumbai

FPIs pull record ₹2 tn on valuations, weak rupee

Heavy outflows could cap market gains; Nifty returns just 0.3% in dollar terms

time to read

2 mins

October 03, 2025

Mint Mumbai

Mint Mumbai

Instant grocery delivery is going luxe to stand out

Blinkit joins the race as it expands to ozone-washed fruits and artisanal breads to cheese

time to read

2 mins

October 03, 2025

Mint Mumbai

Mint Mumbai

Next-gen reforms to tackle land, women's participation

The initiatives seek to tackle some of the intractable challenges in India's development story

time to read

2 mins

October 03, 2025

Mint Mumbai

Why India's best students face a tough job market

Students entering this year's placement season are stepping into a rough job market.

time to read

2 mins

October 03, 2025

Mint Mumbai

Mint Mumbai

Govt scans e-commerce cos’ COD charges, refund delays

The government will examine if cash-on-delivery charges imposed by online retailers are aimed at nudging consumers to pay upfront, and why refunds are delayed or blocked if prepaid orders are cancelled, said two people aware of the matter.

time to read

2 mins

October 03, 2025

Mint Mumbai

Mint Mumbai

WHY INDIA IS SEEKING A NEW SUNRISE IN JAPAN

India missed out on Japanese investment in its initial post-reform years. That could change now

time to read

7 mins

October 03, 2025

Translate

Share

-
+

Change font size