Bloomberg: The wage income of urban residents in China has only increased by 2.2% this

Data show that the wage income adjusted by urban residents in China has only increased by 2.2%from January to September this year, highlighting the impact of government strict epidemic prevention policies and property market landslides on the labor market.

Bloomberg calculated the above results based on the data released by the National Bureau of Statistics of China, and came to the above results. This is less than half of the increasing increase of 5%or more in urban residents before the outbreak of the crown disease.At the same time, some economists believe that the survey of the 31 large cities and towns that can best reflect the situation of China's labor market rose to 5.8%in September, which was higher than 5.4%in August.

According to reports, due to the faster growth of rural residents' wage income, the per capita wage income of China in the first three quarters of this year actually increased by 3.1%, and the GDP increased by 3%.

But the consumer spending is less than income, which may reflect the low confidence and limited travel under the prevention and control of government epidemic.In the first three quarters of this year, the per capita consumption expenditure of the country increased by 1.5%, while the per capita disposable income was 3.2%.

This is the opposite of last year: As residents use savings and borrowing, China's consumption growth rate last year is faster than the growth rate of income.

Pantheon MacroEconomics Duncan Wrigley Chinese economist in the report: "Due to the uncertain economic prospects, decline in house prices, and the impact of dynamic clearing policies, consumer confidence is weak,"

However, given the growth rate of home income from the country since this year, the CCP is expected to achieve the goals set on the 20th National Congress of the 20th National Congress to ensure that "the growth of residents' income and economic growth is basically synchronized" last week.

Because the service industry is driven by consumption expenditure, the economic growth model since the outbreak of the Chinese outbreak is the "first" industry based on agriculture and mining."Industrial growth is faster than the service industry.

Bloomberg reports that a more positive sign of the future is that in the third quarter of this year, China's second industry has grown faster than the first industry, which is the first time for more than a year.Because the possibility of automation and scale economy is greater, improvement of manufacturing productivity is often easier to achieve.

Under the impact of epidemic prevention restrictions, the lives of small and medium -sized enterprise owners such as restaurants and stores are particularly difficult.Zeng Xiangquan, director of the China Institute of Employment, said in an article this month that recruitment data from the Internet show that small and medium -sized enterprises have obviously fallen into a recession.