Zhaopin: CIER Index For Chinese Economy In Q3 Down Sequentially

(RTTNews) - Zhaopin Ltd. (ZPIN), a Chinese career platform focused on connecting users with relevant job opportunities through their career lifecycle, Monday announced that it has released, together with the China Institute for Employment Research at Renmin University, the CIER Employment Index Report for the third quarter of 2015.

The company noted that the CIER report, which reviews and identifies trends in China's employment market, showed that the CIER index for the overall Chinese economy decreased during the third quarter to 1.96 from 2.03 during the second quarter, indicating continued weaker employment confidence in the market.

The Chinese economy is now facing challenges as it works to readjust its economy in the face of slowing growth. China's manufacturing Purchasing Manager's Index for September 2015 increased slightly on a sequential basis to 49.8.

The report noted that the strongest employment confidence were seen in emerging service sector. During the third quarter, e-commerce registered a CIER index score of 5.63, which was first among all sectors, followed by the funds/securities/futures/investment sector with a score of 5.33.

Looking ahead, the company noted that monthly CIER index scores adjusted for seasonality are expected to trend downwards in coming months as a result of the macroeconomic environment in China.