China’s Economic Slowdown Hits Jobs, Wages, and Confidence

From graduates to professionals, many Chinese said layoffs, pay cuts, and uncertainty are reshaping daily life and long-term plans.
China’s Economic Slowdown Hits Jobs, Wages, and Confidence
Job seekers learn about employment at a job fair in Qingzhou, Shandong Province, China, on Jan. 29, 2023. CFOTO/Future Publishing via Getty Images
|Updated:
0:00

As China’s economic slowdown deepens, workers across the country say opportunities are disappearing, incomes are shrinking, and confidence in the future is fading—pushing many toward gig work or plans to leave the country altogether.

From coastal cities to inland provinces, interviews with residents describe a broad downturn marked by business closures, layoffs, and a weakening private sector. While official messaging continues to project resilience, many say their daily reality tells a different story.