For all the angst over China’s economic slowdown, there are few signs of any marked deterioration in the nation’s job market. The official gauge is as steady as ever, a new survey-based unemployment barometer is also holding up, and the government’s measure of job listings versus seekers suggests there’s plenty of work for those who want it. Other measures are less rosy, with employment sub-gauges in purchasing managers indexes and a privately compiled ratio of positions-to-applicants all showing some deterioration. Leaders of the world’s biggest labor force have repeatedly said they can tolerate fluctuations in economic growth so long as the employment market holds up. While the latest data...
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