Q2 job confidence among Chinese households lowest since 2009 - central bank survey

29/6/2022 2:36:00 PM

Q2 job confidence among Chinese households lowest since 2009 - central bank survey

Q2 job confidence among Chinese households lowest since 2009 - central bank survey

BEIJING : A Chinese index of employment confidence dived in the second quarter to its lowest since the global financial crisis of 2008 and 2009, a central bank survey showed on Wednesday, after tough COVID-19 curbs took a toll of the economy from April to June.Nearly 46 per cent of Chinese households thin

BEIJING : A Chinese index of employment confidence dived in the second quarter to its lowest since the global financial crisis of 2008 and 2009, a central bank survey showed on Wednesday, after tough COVID-19 curbs took a toll of the economy from April to June.

Nearly 46 per cent of Chinese households think the employment situation remains"grim" in the second quarter, urban depositors surveyed by the People's Bank of China (PBOC) said.Another indicator of future expectation of employment also dropped to the worst level since 2009.

Read more: CNA »

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LinkedIn BEIJING : A Chinese index of employment confidence dived in the second quarter to its lowest since the global financial crisis of 2008 and 2009, a central bank survey showed on Wednesday, after tough COVID-19 curbs took a toll of the economy from April to June.Copy to clipboard https://str.Copy to clipboard https://str.Copy to clipboard https://str.

Nearly 46 per cent of Chinese households think the employment situation remains"grim" in the second quarter, urban depositors surveyed by the People's Bank of China (PBOC) said. Another indicator of future expectation of employment also dropped to the worst level since 2009. A separate study also showed that most people in South-east Asia would prefer Asean to align itself with the United States. With the survey-based jobless rate in 31 big cities rising to a record of 6.2 billion in 2008.9 per cent in May, Premier Li Keqiang said China would strive to return the economy to a normal track and cut the jobless rate as soon as possible, state media said on Tuesday. Asked if they had confidence in the leaders to do the right thing regarding world affairs, a median of 60 per cent said they had some or a lot of confidence in Mr Biden as opposed to just 18 per cent for his Chinese counterpart. A cohort of graduates larger than the entire population of Portugal is about to enter one of China's worst job markets in decades, at a time when youth unemployment stands at a record of 18. In the four years to 2017, China invested more than US$40 billion in Australia - making Australia one of the largest destinations for Chinese investment.

4 per cent. Asian countries surveyed included South Korea and Japan - both traditional US allies that regularly hold combined defence drills with the superpower. But Chinese investment in Australia in the four years from 2018 amounted to just US$11 billion. Faced with economic uncertainties, more than 58.3 per cent of the households are inclined to save rather than spend or invest in the second quarter, up from 42. Around 70 per cent of South Koreans expressed confidence in Mr Biden, as opposed to 12 per cent for Mr Xi, while 62 per cent of Japanese respondents trusted the American Democrat, compared with a paltry 9 per cent for the Communist Party leader.4 per cent in the first quarter, the PBOC survey showed. Despite signs of a thaw since a recent change of government in Australia, the new Australian Prime Minister, Mr Anthony Albanese, has made it clear he will not make concessions to Beijing. Despite signs of economic recovery in May from the previous month's slump, with the commercial hub of Shanghai under full lockdown, consumption stayed weak, underlining the challenge of attaining positive GDP growth. The Pew researchers said one issue that affected international views of Mr Biden could have been the US withdrawal from Afghanistan in 2021. In comments that riled China, Mr Albanese on Tuesday (June 28) warned that China should learn lessons from Russian President Vladimir Putin's"strategic failure" in invading Ukraine.

A separate survey of bankers published by the bank showed weaker loan demand in the current quarter. An index of loan demand dropped to 56. The researchers said that confidence in China's President stayed roughly the same from a year ago."If their objective was to enhance their power very quickly then that hasn't occurred.6 per cent, the lowest since the third quarter of 2016, with declines in the manufacturing, infrastructure, retail sales and property sectors. As COVID-19 lockdowns shut businesses, an index of entrepreneurs' confidence in the economy dropped by 9. Singapore and Malaysia stood out among the 18 nations surveyed for respondents having higher confidence in China's President than in the US leader.2 per centage points for the second quarter from the previous quarter, and was down 15. The comments drew criticism from Beijing, which said on Tuesday that Taiwan was"not a sovereign country" and could therefore not be compared to Ukraine. The comments drew criticism from Beijing, which said on Tuesday that Taiwan was"not a sovereign country" and therefore could not be compared to Ukraine.

5 per centage points on the year. The survey, which was part of a study to analyse global attitudes towards the US, Nato and Russia, also asked people to rate three other major world leaders: Russian President Vladimir Putin, French President Emmanuel Macron and German Chancellor Olaf Scholz. Source: Reuters .