Wages Up in China as Young Workers Grow Scarce – Keith Bradsher

The New York Times reports that as the labor supply in China diminishes, rise and so will prices of consumer goods here in the U.S.:

29Labor-600Chinese wages are on the rise. No reliable figures for average wages exist; the government’s economic data are notably unreliable. But factory owners and experts who monitor the nation’s labor market say that businesses are having a hard time finding able-bodied workers and are having to pay the workers they can find more money.

And higher wages in China are likely to lead to higher prices in the United States ” at the mall, at the grocery, even at the gas pump. [Full text]

[Image: At the Dahon bicycle plant in Shenzhen, China, pay has risen 10 to 15 percent a year, but productivity gains have held down costs, by Ariana Lindquist for The New York Times]

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