The U.S. Senate voted down auto industry rescue plan of the total amount of 14 billion U.S. dollars
BEIJING, on Dec. 12nd because the United States auto industry trade unions refused to accept demands of the Republican Party who has proposed to cut the wage, the U.S. Senate to rejected on the evening of local time, 11st, auto industry assistance program of a total of 14 billion U.S. dollars. A total of 52 U.S. Senate votes in favor and 35 votes against it, but in accordance with the provisions, the bill passed need at least 60 votes in favor.
U.S. Senate rejected the auto industry rescue plan, so workers worried about the unemployement
BEIJING, on Dec 12nd round-up, because the United States auto industry trade unions refused to accept demands of the Republican Party who has proposed to cut the wage, auto industry rescue program with the value of 14 billion U.S. dollars on the evening at local time was rejected on 11st by the Senate. Anxiously looking forward to the Government for assistance, the automotive Big Three got a blow not hesitate. Full of disgruntled with the long delays in the program for the introduction, auto workers will also be forced to face the increasing risk of unemployment.
U.S. auto industry rescue plan met resistance, leading to Asian stock markets down sharply
BEIJING, Dec. 12nd roundup, as a result of the U.S. Senate voting down auto industry rescue plan of the total amount of 14 billion U.S. dollars, the Asian stock market sharply lowered Friday. The Nikkei 225 index fell 5.19 percent up-to-date, South Korea Composite Index fell 4.29 percent, Hong Kong’s Hang Seng index fell 6.90 percent, Australia S & P / ASX 200 index was down 2.31 percent.
The largest details of rescue plan of 700 billion in U.S. history out
Last Sunday night, the Bush administration and congressional leaders finally authorized the start of the United States, as the largest in the history, the banking rescue plan was agreed. The rescue plan on the 29th (U.S. time) will be voted in Congress.
Soros: U.S. rescue package still need at least an additional 300 billion U.S. dollars
Global well-known hedge fund manager George Soros and the Master in investment, in Germany in recent days when accepted the authority magazine “Der Spiegel” interview, published on its own point on the U.S. government to the rescue package. He believes that the U.S. government’s rescue package 700 billion were not sufficient to enable the completion of the U.S. economy turning around.
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Collapse of Rescue Planning
The 700 billion rescue plan of U.S.A. has collapsed, so the America can not escape the “911 economy” recession. Currently, American unemployment rate is 6.1%, which created the highest level in these five years. However, it is estimated that the number will be reached 7% or 7.5% at the end of 2009. But even some economists forecasted the jobless rate would be higher than the above estimated figure.
Jobless Warning in Mainland (China) in 2008
The jobless number continues to increase in 2008, and the uncertain economic situation makes Chinese jobless number increase to the peak in recent years. Information from the Ministry of Education shows that the number of Chinese college graduates this year has reaches a new record with 5.59 million, which increases 0.64 million people compared with that of last year.
UK enters into Layoff Tide
UK enters into the layoff tide, and there 110 thousand financial workers will be unemployed in next three months, including the 40 thousand professional personnel working in London Financial Center. So the UK jobless number will reach to 2 million people, which creates the highest record in these 11 years.
Germany ILO Jobless Rate in August
German Federal Statistics Office issued the data that the Germany ILO Jobless Rate in August was 7.2%, and the jobless number reduced to 3.1 million people. According to the information for German Federal Statistics Office, Germany ILO jobless rate decreased to the lowest level in 15 years in accordance with the standard of International Labor Organization.
August Unemployment Rate in Japan
Japan Ministry of Internal Affairs announced on the 30th that the unemployment rate in Japan increased 0.2% compared with the data in July, which reached 4.2% and created the highest level since June 2006.
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