Worried About Jobs? Here's How China Workers Stack Up Against the U.S. and Other Countries
The Oliver Wyman study focused on consumers' views about the impact of inflation. But Hong Kong-based partner Ben Simpfendorfer noted that each country faces unique situations in addition to inflation that likely affected survey results.
That was reflected by a high 68% of respondents in Brazil saying they were worried about their ability to pay for groceries and essential products. “Whereas in China, growth has been a little weaker, jobs growth for certain demographics has been weaker, workers in the tech sector have struggled recently, wage growth has been sluggish," he said."That may also play into concerns about the ability to pay for groceries."
In contrast, China's consumer price index rose by 2.5% in August from a year ago, slightly off a two-year high of 2.7% reached the prior month. A rebound in pork prices, a food staple, drove much of the increase.In terms of the economic outlook, U.K. respondents were the most pessimistic, with 75% expecting conditions to worsen, the Oliver Wyman report said. In the United States, that figure was 56%.
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