The United States is in the midst of a massive labor force recession, and China is struggling with a labor force that is falling behind the United States in its development of high-tech products.
China, a country of just over a billion people, has more than 40 million workers and a population of more than six billion.
The United Kingdom, which has a population about 1.3 billion, is one of the world’s fastest growing economies, while the European Union is still recovering from the financial crisis of 2008.
As of mid-June, the U.S. unemployment rate stood at 5.9 percent, up from 5.6 percent a year earlier, according to the Labor Department.
China’s unemployment rate stands at 7.2 percent, down from 10.6 per cent a year ago.
The U.K. and the European nations are also struggling with high levels of unemployment.
In the U: The U.N. Economic and Social Commission for Western Asia and the Pacific, which oversees the region, said that China’s labor force had fallen by nearly 13 million people since the start of the year, and its workforce is projected to fall further in the coming years.
The official data shows that China has a workforce of about 4.3 million people, down 1.7 million from the end of last year, the commission said.
In the U., a big chunk of the decline was among China’s young.
China is one part of a growing trend in the country where young people are moving away from jobs in traditional professions.
The decline in the labor force has been attributed to the country’s rapid economic growth, and the decline in young workers is seen as an issue of concern for the country, according the commission.
A new report by the Chinese Academy of Social Sciences suggests that China will have to start gradually reducing the number of workers in its labor force in the near future, according CNNMoney.
The institute noted that China now has a labor pool of roughly 30 million, compared with about 35 million in 2011.
“In the next few years, China’s workforce will likely shrink significantly to about 20 million people,” it said.
