In recent months, Chinese policymakers have stressed repeatedly that employment growth, rather than rapid GDP growth, is their number one priority. This has led to speculation about how fast the economy needs to grow to ensure the employment target is met. In this China Watch, we examine the connection between GDP growth and employment and explain why the search for a definitive bottom line for growth is futile. As things stand though, the labour market is tight and a further moderate loss of economic momentum would not be a major concern. We also preview the coming month’s data releases.
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