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Economy

China's job market slows as IT and property sectors retrench

Trade tension also threatens to dim outlook for manufacturers

Employees scan boxes and parcels at an express delivery company in Harbin, Heilongjiang province. Companies like food delivery app provider Meituan Dianping have trimmed staff.   © Reuters

SHANGHAI -- The Chinese employment market is showing signs of losing steam as information technology and real estate companies cut back on hiring, with manufacturers likely to follow suit if Beijing and Washington fail to ease their trade tensions in the coming months.

Job listings on the Zhaopin website decreased 27% on the year in the July-September quarter of 2018 as internet-related companies and real estate businesses slowed recruitment. The ratio of openings to applicants has fallen to the lowest in three years, signaling weakness in employment. Listings at 51job reportedly tumbled from 2.85 million last April to 830,000 that September.

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