Wages in China are falling, fast. Q4 average salaries in 38 major cities fell 1.3% y/y.

<p>This is via info in the Wall Street Journal (<a href="https://www.wsj.com/world/china/why-more-chinese-workers-are-settling-for-less-pay-72b51810" target="_blank" rel="nofollow">gated</a>) </p><ul><li>Unlike the U.S., China doesn’t release updates on the number of people who are considered “underemployed,” including those who are working less hours than they want to. In 2021, it said that more than 200 million Chinese people, or nearly a third of the total labor force, are “flexibly employed” in jobs with irregular hours such as food delivery or livestreaming, but it hasn’t updated the figures.
</li><li>Average salaries offered by companies in 38 major cities fell 1.3% in the last quarter of 2023 from a year earlier, according to Zhilian Zhaopin, an online recruitment firm.</li></ul><p>Little wonder that domestic demand in the country is subdued. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.