Rents are increasing again. This image is from the previous rent hike, also inspired by a Foxconn wage increase.
The Foxconn workers in Shenzhen just can’t catch a break. The company keeps raising their wages, but local landlords — who know all their tenants work at Foxconn — seem dedicated to offsetting the benefits of these wage hikes by raising rents. We wrote about this happening a couple months ago, but the recent rumors of another wage hike have reportedly sparked even more rent hikes.
Specifically, it has been reported that the Foxconn workers will get around a ten percent raise. As soon as that information came out, Foxconn workers told the China Business News, local landlords raised their prices by 200 RMB ($31). A worker told the paper that they would be OK if they continue to be allowed the same overtime hours, but that if overtime hours decreased they might not be able to afford their housing.
Granted, if Foxconn really raises its wages as much as some have suggested it will before the end of the year, a 200 RMB rent increase shouldn’t be much of a burden. But in the immediate future, Foxconn workers are stuck having to pay higher rents with the same salaries they were earning last month. That’s not cool.
[China Business News via Sina Tech]