QuickScan: The Silence Around Employment

Policy communication on employment support and social security has been notably quiet since the second half of last year, and our quantitative text-based indicators signal that greater fiscal spending on this front seems unlikely. Our latest QuickScan has more.

State Council policy communication on jobs support and social security has been muted, contrary to market participants’ hopes for more support in this area. This is in marked contrast to previous years, when policy communication and support increased, albeit to a lesser extent than in previous slowdowns. Our text-based employment support indicator has dropped to multi-year lows, while the composite indicator on social security has also fallen back below its long-term average.