CBS News reports on a labor shortage in China’s factories:
As Americans struggle with pink slips, CBS News correspondent Terry McCarthy reports Chinese factories are putting up red signs, seeking workers. The government’s $586-billion economic stimulus program created new jobs in the inland provinces – so fewer workers are willing to migrate to the assembly plants in the south, which have 2 million vacancies.
With a population of 1.3 billion, China is not actually running out of labor – but what is changing is that workers are becoming more selective about where they work, and – most importantly – they expect higher wages.
Better pay is what keeps Zhu Zike working at a lighting manufacturer. With 13 years experience in factories, Zhu is a supervisor and earns $410 a month, double the average wage – and the company gives him a subsidized apartment for his family.
“It’s really up to each individual”, he says, “to decide where they work.”
Migrant workers who do come south can pick and choose.