Employment prospects in Communist China reached their weakest level on record in the third quarter of the year, as Xi Jinping readies to appoint himself Chinese leader for life.
The People’s Bank of China’s Employment Sentiment Index slipped to 35.4, well below the 50-point threshold that separates a weakening in outlook from an improvement.
It was the lowest reading since the index began in 2010.
The central bank’s index surveys 20,000 bank depositors every quarter, with 50 account holders selected randomly from each of 400 branches in 50 locations across the country.
Only 9.7 per cent of respondents said that it was relatively easy to find a job, while 45.2 per cent said it was “hard to judge” or “difficult”.