A crisis brewing in the Chinese labour market?

Official statistics mask the true rate of unemployment as China grapples with a wider slowdown

By George Magnus  

Photo: Li Ran/Xinhua News Agency/PA Images

Samsung Electronics shut down its Tianjin smartphone factory in north eastern China, employing over 2,500 people, last December. Foxconn, which assembles iPhones and Playstations among other things, recently announced a global programme of job cuts, including unspecified numbers in China, as well as cuts in overtime.

These are just two of the best known of a flurry of companies that have been closing facilities or moving operations outside China over the last couple of years. The American Chamber of Commerce reported recently that…

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