Tag: unemployment

Teneo-Europe-Report

CHINA: High unemployment may force government’s hand on stimulus

● China lost 26mn urban jobs between January and March; much of this loss is temporary, but total urban employment could be 20mn below the pre-virus trend by end-2020.

● Policymakers are still waiting to see how far the supply-side recovery can run, but they will eventually be forced to escalate demand-side stimulus.… Read the rest

Teneo-Europe-Report

CHINA: 4 takeaways from the first-quarter GDP

China reported a 6.8% year-on-year contraction of GDP for the first quarter on 17 April. Though the number marks the worst quarterly performance since the current data series began in 1992, the weak figure was widely expected, given the near-total shutdown of the economy from late January through early March.… Read the rest