In recent years,there have been both economic callbacks and employment increases in China,and the service industry has played an important role in this change.Through empirical analysis we prove that the service indus...In recent years,there have been both economic callbacks and employment increases in China,and the service industry has played an important role in this change.Through empirical analysis we prove that the service industry has long-term mechanisms to promote employment growth.Firstly,based on the Baumol-Fuchs hypothesis test,we find that the income elasticity of demand of the Chinese service industry exceeds 1,and the Chinese service industry has huge development potential due to its currently inadequate development.Secondly,based on a modified employment equation,we find that the elasticity of employment of the service industry is far higher than that of the industrial sector,and the service industry has stronger employment stickiness.The service industry can serve as the absorber and stabilizer of employment.China’s current employment pressures mainly grow out of migrant workers and college graduates;to solve the employment problem for these two groups,it is essential to promote both the development of a traditional service industry and the upgrade of the emerging service industry.At last,this paper proposes corresponding suggestions.展开更多
基金This paper is the initial results of the project(10XNJ015)of Research Fund in Renmin University(Funded by the Central University Fundamental Research)It is also one of the results of macroeconomic forum in Renmin University of China.
文摘In recent years,there have been both economic callbacks and employment increases in China,and the service industry has played an important role in this change.Through empirical analysis we prove that the service industry has long-term mechanisms to promote employment growth.Firstly,based on the Baumol-Fuchs hypothesis test,we find that the income elasticity of demand of the Chinese service industry exceeds 1,and the Chinese service industry has huge development potential due to its currently inadequate development.Secondly,based on a modified employment equation,we find that the elasticity of employment of the service industry is far higher than that of the industrial sector,and the service industry has stronger employment stickiness.The service industry can serve as the absorber and stabilizer of employment.China’s current employment pressures mainly grow out of migrant workers and college graduates;to solve the employment problem for these two groups,it is essential to promote both the development of a traditional service industry and the upgrade of the emerging service industry.At last,this paper proposes corresponding suggestions.
