Shenzhen is in increasing need of talents for posts in the block chain and artificial intelligence (AI) industries, according to a recent report on the city’s talent supply and need in spring released by zhaopin.com, the Shenzhen Economic Daily reported.
The report shows that the block chain industry needs 20 times more talents than in the same period last year and the AI industry is also looking for more talents in the field, with an average entry salary of 17,214 yuan (US$2,705) per month.
February and March last year were the two months with the highest job-hopping rate in Shenzhen, which accordingly made the job market more lively and competitive during that period last year, according to data released by the job-hunting website.
Data shows that, on average, 42 people were competing for one post in the spring of 2018, but the figure dropped by 4 percent compared to that of last year. In 2018, companies increased remuneration by 8 percent on average to attract talents.
Policy indicators are playing crucial roles in the job market. IT and real estate were two industries greatly impacted by policies.
Since the IT industry is still developing at a rapid speed, and the Shenzhen government has released rounds of favorable policies to boost the industry’s development, more jobseekers are intending to work in IT in Shenzhen.
On the contrary, the real estate industry appears to be in a gloomy state, since governments at several levels have rolled out policies to curb surging housing prices, which made it more difficult for real estate companies to hire people this year.
Cross-industry job-hopping has become a new trend in recent years, according to the report, especially among people with work experience in the IT, telecommunication, electronics, Internet and finance industries.
For instance, over half the people who work in the IT and financial sectors chose to quit their jobs to work in other industries, which shows that Internet technology talents are favored by many other industries.
In addition, the report also found that young people with less than three years of work experience make up the majority of jobseekers in Shenzhen. On the other hand, people who choose to leave Shenzhen for their hometowns or less developed cities are generally those who have at least five years of experience.
This phenomenon shows that many young people from second- or third-tier cities usually choose to work in larger cities, like Shenzhen, Beijing, Shanghai and Guangzhou, to gain work experience before returning to their hometowns or moving to other cities.