Chart of the Day: China’s Shrinking Workforce
China’s labor force fell to 897.29 million workers in 2018, falling by 0.5% in the seventh straight year of decline, according to the National Bureau of Statistics (NBS).
The country’s shrinking population of workers has pushed up labor costs and added to the strain on an economy already struggling against headwinds.
From 2011 to 2018, China’s working-age population — people between the ages of 16 and 59 — shrank 2.8%, the NBS announced (link in Chinese) at a news conference Monday. As of the end of last year, the working-age population accounted for 64.3% of China’s roughly 1.4 billion people.
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