US Jobless Rise Slightly, China's Slowdown Hit its Workers
Peoples wait in line to attend TechFair LA, a technology job fair, in Los Angeles, California, U.S. Photo by Reuters.

JAKARTA (TheInsiderStories) – The number of Americans filling out jobless benefits increased by 6,000 to 229,000 which ended March 9 from the previous week unrevised level of 223,00. While, in its trade, China’ economic slowdown hit its workers severely to being laid off and received a low salary, said an official report on Thursday (03/14).

In United States (US), Department of Labor reported that the four-week moving average was 223.750, a decrease of 2.500 compared to the previous week’s unrevised average of 226.250. Previously, the seasonally adjusted insured unemployment rate for the week ended March 2 was 1.2 percent, unchanged compared to the previous week.

While seasonally adjusted insured unemployment during the same week was 1.776.000, an increase of 18.000 from the previous week’s revised figure. The four week moving average is 1,766,250, than the previous week’ revised average of 1,767,250.

Meanwhile, in China, many white-collar workers face layoffs and shrinking salaries even in industries that move forward like technology, due to “economic pain” in the bamboo curtain country. In addition, due to many layoffs and increasingly low salaries, many people “hunt for jobs,” and find it difficult to find themselves suitable for new jobs.

China‘ economic slowdown has left unemployed factories and construction sites rustling in its offices. Even big technology companies like JD.com, online retailers and Didi Chuxing, Uber’s rival in China, have not been saved.

According to analysts, the slowdown also shows that the government will find it more difficult to attract the economy from its slump. Chinese leaders have acknowledged that creating jobs can be a challenge.

China tried a policy tool by releasing a wave of loans from a state-controlled banking system or building new highways and airports, but it would not be of much help to workers who process insurance claims or enter data into computer systems. However, the country doesn’t disclose reliable employment data or layoffs, so the full impact of the slowdown is unclear.

But, several surveys show there is still a high demand for jobs in certain sectors. And many signs indicate problems for other office workers.

Baidu, the largest search engine in China, were analyzed by Japan’s Nomura bank, showing the term “job search” rose to the highest level in December. Human resource executives and senior staff at technology companies, property developers and other large private companies describe layoffs in the past few months to 30 percent in several companies involving hundreds of workers, according to a recent survey.

New positions in technology companies and internet startups dropped 51 percent in the third quarter of 2018 from a year earlier. Chinese news media reports also said Didi Chuxing reduced benefits such as free snacks and drinks and would adjust benefits but would not make large cuts without giving specifics.

While, an e-commerce company JD.com, has begun evaluating employees with the aim of spilling 10 percent of its top executives in February. The e-commerce giant Alibaba also plans to freeze recruitment, but will “employ more talent and increase investment in talent,” especially when the economy is challenging.

The dynamic atmosphere of Chinese technology also faces a financial crisis. Many new companies have difficulty collecting money.

Written by Daniel Deha, Email: daniel@theinsiderstories.com

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