Shanghainese unhappy about income

Image via WikipediaShanghainese are unhappy about the development of their income and a substantial part is delaying big ticket purchases, reports the official news agency Xinhua, based on a survey of the Shanghai University for Finance and Economics.

Among the 1,000 surveyed, 13.3 percent said their income shrank over the past year, 4.4 percent higher that that of the first quarter. People's employment expectation index dropped by 23.5 to stand at 84.7 points, and 35.9 percent of the surveyed were pessimistic about job opportunities in the second half of the year.

In addition, 62.6 percent Shanghai citizens thought it was not a good time to buy houses right now, and 55.7 percent would not consider buying one this year.

The survey also shows that about half of the surveyed were negative about buying cars either now or in the second half of the year.

Both inflation and the falling Shanghai stock market might have caused this sentiment, the professor in charge says. Disposable income for Shanghainese has gone up says other research.