Asia Pacific is expected to see wages rise next year due to a tight labour market and rising inflation concerns.
The Zhongshan city government in Guangdong province has introduced a series of incentives to support “working moms” reentering the workforce.
Despite the loss, Forrester expects the green economy to help make up for some losses as more countries commit to carbon neutrality.
The working population born during a baby boom in the 1960s will enter retirement, putting higher pressure on pension funds and social problems.
Chinese Premier Li Keqiang has vowed to punish employers who discriminate against job seekers who have had COVID-19.
The government has pledged continued business support and relief measures to ensure employment stays strong in the country.
New regulations aim to serve the rights of workers, foster new skills, support startups, and ensure healthy and balanced development in the job market.
Chinese ministries have rolled out a raft of support policies that focus on cutting fees and taxes, as well as provide employment skills training.
This aims to increase and stabilise employment in key sectors and expand relevant subsidies for college graduates and other key target groups.
Working mothers who have used up their maternity leave can now apply for an extension of more days up until the child is one year old.
Initiatives include a series of pro-employment campaigns to move job interviews online and incentivising firms to increase their employee count.
Only 25% of companies in China have carried out digital transformation, while the proportion of SMEs that have done so is even smaller.
The city is pushing out two measures for alleviating the financial burden on seven key industries seriously affected by the pandemic.
The average salary of China's urban employees in the non-private sector topped 100,000 yuan (US$14,929) for the first time.
Companies in the province would be reimbursed for 50% or 80% of the social insurance paid to women who have a second child or a third child, respectively.
Central departments are also looking towards alleviating job market discrimination for people with disabilities.
Jobs will be created for the disabled at government departments, public institutions, state-owned enterprises and private businesses.
In a recent episode of HRM TV, Nela Richardson, ADP’s Chief Economist, shared key workforce trends from countries in the APAC region.
The country’s surveyed urban unemployment rate stood at 5.5% in Q1’2022, up 0.1 percentage points year-on-year, according to official data.
China has launched the first private pension scheme in the country, paving the way for workers to invest and supplement funds in their pension accounts.
To protect workers' rights to adequate rest, the authorities are clamping down on employers who make their staff clock excessive overtime.
"Pro-job policies", including tax and fee cuts totaling US$400 billion for businesses, especially small entrepreneurs, are planned.
The central government aims to create more than 11 million new jobs in urban areas this year and to keep the unemployment rate in urban areas under 5.5%.
Some 8.62 million people with disabilities, including the self-employed and flexible workers, were employed in 2020, up from 8.55 million in 2019.
Jiangsu will be the country’s first province to allow workers to postpone retirement next month in a bid to decrease social welfare spending.
To help SMEs tide over the pandemic, the government will implement more supportive policies to help SMEs operationally and financially.
China is offering special help to young entrepreneurs and providing a range of incentives to encourage small companies to employ fresh graduates.
Certain sectors, such as wholesale and retail, saw more employment, which contributed to the overall employment stability.
One of the transitions identified by the World Economic Forum is eco-tourism, which is projected to create some US$53 billion of additional revenue.
The government will also be increasing deductions for research and development expenses under businesses’ income tax filings.