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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (60886)	2/22/2002 1:45:21 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Hong Kong's jobless rate hits highest level in decades By Andrea Ricci Thursday February 21, 7:00 PM sg.news.yahoo.com HONG KONG (Reuters) - Hong Kong's jobless rate soared to 6.7 percent in the three months to end-January, the highest in decades and well above levels seen during the depths of the Asian financial crisis. The figure was far above economists' expectations of 6.3 percent and well above the 6.4 percent hit in the spring of 1999, when joblessness was last at its peak. It was also the highest rate since 1981, when the government began using the statistical model it employs now. A growing number of companies in the territory have been cutting staff, slashing salaries or asking workers to take unpaid leave in a bid to trim costs as the economy threatens to tip into its second recession in four years.