China Employment: Urban: Reemployed from Layoff: Year to Date data was reported at 5,150.000 Person th in Dec 2024. This records an increase from the previous number of 3,880.000 Person th for Sep 2024. China Employment: Urban: Reemployed from Layoff: Year to Date data is updated quarterly, averaging 3,920.000 Person th from Dec 2004 (Median) to Dec 2024, with 70 observations. The data reached an all-time high of 5,670.000 Person th in Dec 2015 and a record low of 780.000 Person th in Mar 2020. China Employment: Urban: Reemployed from Layoff: Year to Date data remains active status in CEIC and is reported by Ministry of Human Resources and Social Security. The data is categorized under China Premium Database’s Labour Market – Table CN.GB: Employment.

China City Labor Market: Supply: Layoff Employee data was reported at 148.320 Person th in Mar 2014. This records an increase from the previous number of 110.349 Person th for Dec 2013. China City Labor Market: Supply: Layoff Employee data is updated quarterly, averaging 212.674 Person th from Mar 2001 (Median) to Mar 2014, with 53 observations. The data reached an all-time high of 313.644 Person th in Sep 2005 and a record low of 110.349 Person th in Dec 2013. China City Labor Market: Supply: Layoff Employee data remains active status in CEIC and is reported by Ministry of Human Resources and Social Security. The data is categorized under China Premium Database’s Labour Market – Table CN.GJ: City Labor Market: Supply of Labour: by Type of Seeker.

China Outplacement Services Market size was valued at USD 1.57 Billion in 2024 and is projected to reach USD 2.87 Billion by 2031, growing at a CAGR of 4.36% during the forecast period 2024-2031.

Global China Outplacement Services Market Drivers

Transition and Restructuring of the Economy: China's economy is changing dramatically, moving from development centered on manufacturing to one that is more driven by innovation and services. Organizations frequently need to reorganize their staff to conform to new business models as a result of this transformation. Outplacement services are essential when businesses reorganize or downsize to provide a seamless transition for the impacted personnel.

A Rise in Corporate Reductions: Especially in industries like manufacturing, technology, and finance, many Chinese businesses have experienced difficulties in recent years that have resulted in employee layoffs. Layoffs have been caused by many factors, including automation, shifting customer tastes, and economic downturns. Employers can better handle these changes by using outplacement services, which guarantee that workers are assisted in securing new jobs.

MGA Entertainment struggles with U.S.-China tariffs impacting toy prices and industry stability due to reliance on Chinese manufacturing.

In 2023, the province of Shanxi in China held the largest coal mining workforce out of any state or province in the world, with about 587,000 employees. It is anticipated that approximately 241,900 coal mine workers will be laid off in Shanxi by 2050, as a result of the life of mine closure of coal mining projects in the area.

Hong Kong Unemployment: Dismissed or Laid Off: Financing & Insu, Real Estate data was reported at 5,300.000 Person in Sep 2018. This records a decrease from the previous number of 7,000.000 Person for Jun 2018. Hong Kong Unemployment: Dismissed or Laid Off: Financing & Insu, Real Estate data is updated quarterly, averaging 7,400.000 Person from Mar 2008 (Median) to Sep 2018, with 43 observations. The data reached an all-time high of 16,400.000 Person in Jun 2009 and a record low of 4,900.000 Person in Sep 2015. Hong Kong Unemployment: Dismissed or Laid Off: Financing & Insu, Real Estate data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong SAR – Table HK.G047: Unemployment: GHS: RPA: Dismissed or Laid Off: by Industry: HSIC 2.0.

Hong Kong Unemployment: Dismissed or Laid Off: Trade & Wholesale data was reported at 3,900.000 Person in Jun 2018. This records a decrease from the previous number of 4,400.000 Person for Mar 2018. Hong Kong Unemployment: Dismissed or Laid Off: Trade & Wholesale data is updated quarterly, averaging 7,000.000 Person from Mar 2008 (Median) to Jun 2018, with 42 observations. The data reached an all-time high of 20,900.000 Person in Mar 2009 and a record low of 3,800.000 Person in Dec 2017. Hong Kong Unemployment: Dismissed or Laid Off: Trade & Wholesale data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong SAR – Table HK.G047: Unemployment: GHS: RPA: Dismissed or Laid Off: by Industry: HSIC 2.0.

As of January 2024, the tech startup with the most layoffs was Amazon, with over 27 thousand layoffs, across five separate rounds of layoffs. It was followed by Meta and Google with around 21 thousand and 12 thousand job cuts announced respectively.

Layoffs in in the technology industry

Overall, layoffs across all industries began in 2020 due to the outbreak of the coronavirus (COVID-19) pandemic, with tech layoffs increasing in 2022. In the first quarter of 2023 alone, more than 167 thousand employees had been fired worldwide, a record number of job cuts in a single quarter and more than all of the layoffs announced in 2022 combined, marking a harsh start to of 2023 for the tech sector. From retail to finance and education, all sectors are suffering from this widespread downsizing. However, retail tech startups were hit the most, with almost 29 thousand layoffs announced as of September 2023. Most job losses happened in the United States, where tech giants like Amazon, Meta, and Google are based.

Reasons behind increasing tech layoffs

Layoffs in the technology sector started with the COVID-19 pandemic in 2020 when entire cities were in lockdown and mobility was restricted. Although restrictions loosened up in 2021, events such as the Russia-Ukraine war, the downturn in Chinese production, and rising inflation had a significant impact on the tech industry and continue to represent major concerns for tech companies. As a consequence, companies across the world have yet to overcome all economic challenges, examples of which are rising material and labor costs, as well as decreasing profit margins. To address such difficulties, tech companies have appointed business plans. For instance, in the United States, tech firms planned to focus more on consumer retention, automating software, and cutting operating expenses.

ObjectiveAging population and rising unemployment risks have emerged as dual challenges for governments worldwide. Using China’s 1990s state-owned enterprise layoffs as a natural experiment, we examine causal evidence on how adult children’s unemployment affects older parents’ health. We particularly analyze how urban–rural social security moderates these effects.MethodsUsing data from the China Health and Nutrition Survey 1991–2006, we construct three health outcome dimensions for older parents: disease status, daily functional abilities (physical function and instrumental activities of daily living), and body mass index. Econometric analysis uses a two-way fixed effects model and a causal forest model.ResultsThe layoffs of adult children significantly increased older parents’ morbidity risk. Due to disparities in the social security system between urban and rural household registration (hukou), this effect primarily increased health risks—including higher probability of disease, increased risk of hypertension, limitations in daily activities, and underweight conditions—among rural-hukou older parents living in urban areas. In contrast, layoffs of adult children showed no measurable impact on urban-hukou older parents. Mechanistically, layoffs did not reduce daily care provided by children to their parents, but rather diminished household income. Moreover, layoffs of adult children reduced older parents’ healthcare utilization and lowered their nutritional intake. Rural-hukou older parents living in urban areas were most affected, with reduced protein and fat consumption.ConclusionThe reduction in family resources caused by adult children’s unemployment is detrimental to older parents’ health. The social security system serves as a vital safety net for protecting the health of older populations. Strengthening social security is an essential policy complement to mitigate welfare losses in families affected by unemployment.

Hong Kong Unemployment: Dismissed or Laid Off: Construction data was reported at 11,800.000 Person in Jun 2018. This records a decrease from the previous number of 14,200.000 Person for Mar 2018. Hong Kong Unemployment: Dismissed or Laid Off: Construction data is updated quarterly, averaging 13,650.000 Person from Mar 2008 (Median) to Jun 2018, with 42 observations. The data reached an all-time high of 32,600.000 Person in Jun 2009 and a record low of 8,100.000 Person in Dec 2015. Hong Kong Unemployment: Dismissed or Laid Off: Construction data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong SAR – Table HK.G047: Unemployment: GHS: RPA: Dismissed or Laid Off: by Industry: HSIC 2.0.

This paper aims to explore the impact of China’s value-added tax (VAT) credit refunds policy on the enterprises’ labor demand through a paradigm combining ex-ante analysis and ex-post test. By introducing the VAT credit refunds into the production-decision model of the enterprise, calibrating the parameters and conducting the dynamic effects tests using the data of Chinese A-share listed enterprises, this paper finds that the labor employment of the pilot enterprises exhibits a V-shaped fluctuation trend. In the initial implementation of the policy, due to the existence of layoff costs, iso-cost line of the enterprise bends, which results in that the enterprise with a capital-labor substitution elasticity greater than 1 will not reduce labor hiring, as it has already deployed labor force before the implementation of the policy. When the enterprise enter the next production cycle where the labor force can be freely allocated, the labor employment of the enterprise with a capital-labor elasticity of substitution greater than 1 will decline compared to that without the policy. In the long run, as output increases, the labor demand will recover. The results of ex-post test are consistent with that of the ex-ante analysis. Additionally, heterogeneity test reveals that the greater the elasticity of capital-labor substitution of the sub-industry is, the more severe the degree of the V-shaped fluctuation is. Following the implementation of the policy, the continuous increase in enterprise output and capital stock verifies the relevant transmission mechanism. This study provides a more detailed perspective for comprehensively understanding the impact of VAT credit refunds policy on employment.

Hong Kong Unemployment: Dismissed or Laid Off: Public Admin, Social & Personal data was reported at 5,900.000 Person in Jun 2018. This records an increase from the previous number of 5,600.000 Person for Mar 2018. Hong Kong Unemployment: Dismissed or Laid Off: Public Admin, Social & Personal data is updated quarterly, averaging 7,250.000 Person from Mar 2008 (Median) to Jun 2018, with 42 observations. The data reached an all-time high of 12,600.000 Person in Sep 2009 and a record low of 4,500.000 Person in Dec 2013. Hong Kong Unemployment: Dismissed or Laid Off: Public Admin, Social & Personal data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong SAR – Table HK.G047: Unemployment: GHS: RPA: Dismissed or Laid Off: by Industry: HSIC 2.0.

Hong Kong Unemployment: Dismissed or Laid Off: Transportation, Storage, Postal data was reported at 2,400.000 Person in Sep 2018. This records a decrease from the previous number of 4,500.000 Person for Jun 2018. Hong Kong Unemployment: Dismissed or Laid Off: Transportation, Storage, Postal data is updated quarterly, averaging 5,800.000 Person from Mar 2008 (Median) to Sep 2018, with 43 observations. The data reached an all-time high of 16,800.000 Person in Mar 2009 and a record low of 2,400.000 Person in Sep 2018. Hong Kong Unemployment: Dismissed or Laid Off: Transportation, Storage, Postal data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong SAR – Table HK.G047: Unemployment: GHS: RPA: Dismissed or Laid Off: by Industry: HSIC 2.0.

SEAT, Volkswagen's Spanish subsidiary, warns of possible production cuts and layoffs due to high EU tariffs on its Chinese-made electric vehicles.

Hong Kong Unemployment: Dismissed or Laid Off: Manufacturing data was reported at 1,300.000 Person in Jun 2018. This records a decrease from the previous number of 1,900.000 Person for Mar 2018. Hong Kong Unemployment: Dismissed or Laid Off: Manufacturing data is updated quarterly, averaging 2,850.000 Person from Mar 2008 (Median) to Jun 2018, with 42 observations. The data reached an all-time high of 9,700.000 Person in Jun 2009 and a record low of 1,200.000 Person in Mar 2017. Hong Kong Unemployment: Dismissed or Laid Off: Manufacturing data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong SAR – Table HK.G047: Unemployment: GHS: RPA: Dismissed or Laid Off: by Industry: HSIC 2.0.

This paper aims to explore the impact of China’s value-added tax (VAT) credit refunds policy on the enterprises’ labor demand through a paradigm combining ex-ante analysis and ex-post test. By introducing the VAT credit refunds into the production-decision model of the enterprise, calibrating the parameters and conducting the dynamic effects tests using the data of Chinese A-share listed enterprises, this paper finds that the labor employment of the pilot enterprises exhibits a V-shaped fluctuation trend. In the initial implementation of the policy, due to the existence of layoff costs, iso-cost line of the enterprise bends, which results in that the enterprise with a capital-labor substitution elasticity greater than 1 will not reduce labor hiring, as it has already deployed labor force before the implementation of the policy. When the enterprise enter the next production cycle where the labor force can be freely allocated, the labor employment of the enterprise with a capital-labor elasticity of substitution greater than 1 will decline compared to that without the policy. In the long run, as output increases, the labor demand will recover. The results of ex-post test are consistent with that of the ex-ante analysis. Additionally, heterogeneity test reveals that the greater the elasticity of capital-labor substitution of the sub-industry is, the more severe the degree of the V-shaped fluctuation is. Following the implementation of the policy, the continuous increase in enterprise output and capital stock verifies the relevant transmission mechanism. This study provides a more detailed perspective for comprehensively understanding the impact of VAT credit refunds policy on employment.

Hong Kong Unemployment: Dismissed or Laid Off: Retail, Accommodation & Fodo data was reported at 9,200.000 Person in Jun 2018. This records a decrease from the previous number of 10,900.000 Person for Mar 2018. Hong Kong Unemployment: Dismissed or Laid Off: Retail, Accommodation & Fodo data is updated quarterly, averaging 12,200.000 Person from Mar 2008 (Median) to Jun 2018, with 42 observations. The data reached an all-time high of 25,300.000 Person in Jun 2009 and a record low of 8,100.000 Person in Dec 2011. Hong Kong Unemployment: Dismissed or Laid Off: Retail, Accommodation & Fodo data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong SAR – Table HK.G047: Unemployment: GHS: RPA: Dismissed or Laid Off: by Industry: HSIC 2.0.

Hong Kong Unemployment: Dismissed or Laid Off: All Industries data was reported at 43,600.000 Person in Jun 2018. This records a decrease from the previous number of 49,500.000 Person for Mar 2018. Hong Kong Unemployment: Dismissed or Laid Off: All Industries data is updated quarterly, averaging 55,950.000 Person from Mar 2008 (Median) to Jun 2018, with 42 observations. The data reached an all-time high of 130,600.000 Person in Jun 2009 and a record low of 42,700.000 Person in Dec 2017. Hong Kong Unemployment: Dismissed or Laid Off: All Industries data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong SAR – Table HK.G047: Unemployment: GHS: RPA: Dismissed or Laid Off: by Industry: HSIC 2.0.

Descriptive statistical results of the main variables.

Measurement error of the intensity of VAT credit refunds.