China crisis: 20 million migrants have lost jobs
Twenty Million. That's the official number of out-of work migrants — more than the population 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 economy said state media Xinhua, ,” quoting a senior planning official 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.
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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 economy said state media Xinhua, ,” quoting a senior planning official 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.
To read the full article, click here..
To read the ePaper, visit: http://epaper.hindustantimes.com
Labels: china, China’s migrant workers, China’s rural labour market, global financial crisis, jobs, made in China products, Mumbai, work migrants
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