In 2015，China’s economic growth has experienced significant downward pressure，and the economic structure continues the process of re-adjustment. Meanwhile，the employment situation remains stable. However，unstable factors keep increasing. On the one hand，workers’ wage gradually increases，while the delay of wage payment becomes more frequent. The old-age pension reform of the administrative departments and government-related institutions has been launched，while the overall planning of employees’ basic old-age pension will start soon. The situation of occupational safety maintains at a stable stage. Large accidents reveal the security risks are still widespread. On the other hand，the amount of labor disputes keeps increasing. The amount of collective actions relating to labor dispute has been increasing greatly. The paper carries out analysis on the diminishing demographic dividend from five aspects：aging of labor population，the newly increasing labor’s challenge of few children，rising labor costs，the coexistence of early retirement and the postponement of youth’s labor entrance，and the decrease of labor protection level.