China Financial Daily

October 22, 2008

Global Jobless and Unemployment or Layoffs in China (Taiwan and Mainland)

Filed under: Financial News — Tags: , , , — Nancy @ 10:20 am -0700

20 Million People will face the crisis of unemployment
Director-General of International Labor Organization (ILO) said because of financial crisis, until the end of 2009, global unemployment would be increased from 190 million in 2007 to 210 million people, which might increase 20 million people. Somavia called on governments to take prompt action to prevent the outbreak of the severe and lasting global social crisis.

Taiwan Unemployment Rate created the New High
The data from Taiwan showed on Oct.22 that the Taiwan jobless rate in September was 4.27%, which increased 0.13 percentage points compared with the previous month, hitting a 4-year high in the same month. For the serious problem of unemployment, the “Labor Commission” in the afternoon announced that in order to promote employment, they plan to invest NT 3.7 billion so as assist at least 30 thousand people to seek job.

Job-waiting Rate of University graduates reaches 15%, which is much higher than the average layoff rate in China
China Youth Research Center released “Report on rights and interests of youth in China” yesterday that our national job-waiting rate of university graduates has reached 15% approximately, which is much higher than the average jobless rate in society.

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September 30, 2008

Jobless Rate in America, China, UK, Germany, Japan

Filed under: Financial News — Tags: , , , — Nancy @ 3:42 am -0700

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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