Chinese Economic Outlook: Unemployment Changes and Sector Shifts

Abstract

A vivid image of the future of the Chinese economy proves essential in navigating the complex future of the Chinese economy. Under the impacts of the prolonged quarantine in China and the nation’s strong recovery in the high-tech sector following large financial market reforms, the future of the Chinese economy becomes increasingly uncertain with the likeliness of a period of expansion as well as development to redistribute sectors within the Chinese economy. With seemingly contradictory trends of development, such forecasts become increasingly urgent. In this study, through the statistical exploitation of the unemployment rate of China, coupled with policy and economic analysis of the nation, this paper sought to determine the future of the Chinese economy through both structural perspectives and its overall trend, shedding light on some of the ambiguity of the future. Although the forecast of unemployment proved to be flat under the exploitation of two different models following manipulation and testing of the data, news, and policy generated other insights from which a more accurate and specific conclusion regarding the Chinese economy can be derived. Finally, the research explores in detail the implications of the alternations in the Chinese economy.