皇冠体育app

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皇冠体育app to face labor shortage

By Shangguan Zhoudong (chinadaily.com.cn)
Updated: 2007-05-11 16:08

皇冠体育app will face labor shortage in 2009, says a report issued yesterday by the Institute of Population and Labor Economics under the Chinese Academy of Social Sciences, the Beijing Times reported.

The shortage will trigger the growth of wages for rural laborers, the report said.

Currently 皇冠体育app only has a 52.12 million surplus in rural labor under 40 years-old, far lower than other media reports which estimated the number to be around 100 to 150 million, said Cai Fang, director of the institute.

In recent years, 皇冠体育app's labor force supply has changed from a time of excessive supply to a state of demand-and-supply balance and soon to enter an era of labor shortage in the near future.

The current labor shortage is starting from the coastal areas and spreading to central regions of 皇冠体育app, where most of the labor force comes from.

Cai delivered a speech with the theme of 皇冠体育app Employment Growth and Structure Change at the 30th anniversary of the academy yesterday.

皇冠体育app's labor shortage also can be blamed on an aging population, an earlier report said.

In the past 25 years, 皇冠体育app's economy maintained high growth thanks to sufficient numbers of young and middle-aged workers.

But today, 皇冠体育app's aging population has reached the world's average level, while per capita GDP is one fifth of the world average.