
TWENTY MILLION.
That's the official
number of out-of-
work migrants —
more than the popu-
lation of Beijing or Mumbai —
who are back in villages in the
fallout of slumping global
demand for made-in-China
products.
An average of six million
workers enter China’s rural
labour market every year, so
this year’s migrant
job losses could top
25 million.
“About 20 million
of China’s migrant
workers have
returned home after
losing their jobs as
the global financial
crisis takes a toll on the econ-
omy said state media Xinhua,
,”
quoting a senior planning offi-
cial on Monday .
This estimate was released
a day after the government
issued a document warning
that 2009 would be China’s
toughest year since 2000.
Yiping Huang, chief Asia
economist for Citigroup, told
Reuters the number could dou-
ble if government stimulus
plans are not effective enough.
“It [20 million] is a big number
coming from an official source
but a lot of people are expect-
ing even bigger numbers,”
Huang was quoted saying.
“These are difficult to check
reliably but people are talking
,
about 30-40 million eventually .”
About 15.3 per cent of
China’s 130 million migrant
workers have left the cities job-
less, Xinhua said, quoting Chen
Xiwen, director of the Office of
Central Rural Work Leading
Group. The data is based on a
survey in 15 provinces.
“Our estimate was that over
15 million jobs, mostly among
migrant workers, would be lost
in 2009,” Tao Wang, head of
China economic research at
UBS Securities in Beijing, told
Hindustan Times. “We think
some of them may find jobs
later this year when the fiscal
stimulus and recovery of the
construction sector takes off.”