China survey shows a job market under strain
Bareksa • 20 Feb 2014
An early gauge of factory activity raises questions about China's drive to temper growth and reorient the economy towards consumption, with the employment reading scraping five-year lows (REUTERS/Tara Joseph)
Another painful contraction in China's manufacturing sector
Reuters - A leading private survey shows activity shrinking for a second straight month, falling once again below the 50 line separating expansion from contraction. The reading on employment was especially grim with the job sub-index hitting its lowest level since the 2008-2009 financial crisis. This survey is one of the few that measures Chinas vast labor market, although it focuses on small to medium-sized firms.