China’s factories are running out of labor already for years, but now also companies looking for white-collar workers have a hard time to fill in the fast-growing number of vacancies, tells business analyst Shaun Rein in BusinessWeek. And wages go up fast.
The labor shortage isn’t limited to factory workers. Workers for desk jobs are also in short supply. “There just aren’t enough people,” says Shaun Rein, managing director of Shanghai-based market research firm CMR China and author of the new book The End of Cheap China. Rein points to announced plans by Citigroup,Microsoft, Google, and others to boost their number of workers in China. “That’s creating a huge fight for white-collar workers,” he says. “Salaries are soaring.”
- Expect more inflation – Shaun Rein (chinaspeakersbureau.info)
- Shift from export to domestic consumption needed – Shaun Rein (chinaspeakersbureau.info)
- China’s rich get richer and more confident – Shaun Rein (chinaspeakersbureau.info)
- Only Europe can save Europe, not China – Shaun Rein (chinaspeakersbureau.info)
- Global brands must to local to win – Shaun Rein (chinaherald.net)