China's Job Market Falters amid Economic Uncertainty
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China's economic recovery causing global concern despite slight rebound in August. Recruiters seeing drop in confidence on both employer and employee side.
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Some industries like hospitality growing, while others like biotech slowing hiring. Internet platforms laying off workers, not recruiting aggressively.
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Consumer/luxury goods resilient but real estate and tutoring declines affecting job market. Recruiters seeing 30-40% revenue drops.
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Job hoppers can no longer expect 20-30% raises. Many accepting lateral moves or even cuts to change jobs.
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With weak domestic prospects, some Chinese firms expanding overseas, recruiting abroad and in China for foreign branches.
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