China's GDP growth slows economic recovery due to first negative unemployment increase

China's GDP growth slows economic recovery due to first negative unemployment increase 5:07 on April 18

The growth rate of GDP (Gross Domestic Product) from January to last month of China announced on 17th became the first negative after the quarterly data was released. It has been pointed out that the number of unemployed people will continue to slow down consumption and delay the economic recovery.

China's National Bureau of Statistics announced on the 17th that the GDP for the first quarter from January to last month was minus 6.8% compared to the same period last year, the first time since 1992 when quarterly data was released. It was lower than the previous year.

According to a survey by Japanese-affiliated company "Intelligence China", the number of vacancies for Japanese-affiliated companies operating in China in the first quarter
decreased by 60-70% in the retail and wholesale industries compared to the same period last year. In addition, the
manufacturing industry decreased by about 50%.

"The coronavirus has been hit in various ways, and many companies are not increasing the number of employees as part of cost cutting. Among them, the restaurant business is considering liquidation of the business." Is also available. "

In addition, according to a survey of this company, half of Japanese companies said that they would not hire new graduates this year. I am.

Chinese economic experts have also pointed out that the increase in unemployment due to corporate bankruptcies and restructuring will prolong consumption stagnation and delay economic recovery.