China job prospects, incomes plunge to new lows amid economic slowdown

But while economic activity is expected to eventually rebound, it's unclear how quick that will happen given the spread of infections and the weakness in confidence

Chinese residents saw their confidence in the job market and their incomes plunge to new lows, while interest in buying homes also fell as the economic slowdown worsened this year. 

The People’s Bank of China’s Employment Sentiment Index — which is based on a survey of households’ outlook for jobs — declined to 33.1 in the last three months of 2022, worse than the prior quarter’s record low dating back to when data began in 2010. Figures below 50 represent a contraction in the sector.

The Income Confidence Index — a gauge measuring expectations for income in the next three