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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: porcupine --''''> who wrote (1593)	4/23/1999 4:25:00 PM
From: porcupine --''''>	Read Replies (1) \| Respond to of 1722

Jobless Rate Rises in Taiwan By The Associated Press -- April 23, 1999 TAIPEI, Taiwan (AP) -- Taiwan's jobless rate rose to 2.8 percent in March, up from February's 2.7 percent, despite forecasts of a rebounding economy, officials said Friday. The 1999 unemployment rate is expected to range between 2.75 and 2.8 percent, up from 2.69 percent in 1998, said the Directorate General of Budget, Accounting and Statistics. The number of the unemployed came to 271,000, including 97,000 who lost their jobs because of factory or company closures, the agency said. Labor participation rate dropped to 57.6 percent -- the lowest in 17 years -- because many people gave up looking for jobs in the sluggish job market. The lackluster real estate and banking sectors have contributed to the rising jobless rate despite government efforts to prop them up with low-interest mortgages and tax reductions, officials said. In the real estate sector, officials said, employment dropped by 15,000 people and workers took pay cuts averaging 6 percent in March. Affected by the regional financial crisis, Taiwan's economic growth rate dropped to 4.8 percent last year, the lowest in 16 years. But an improved trade performance is expected to bolster the economy. The government has forecast a 4.7 percent growth this year and a growth of 5.9 percent next year. Copyright 1999 The New York Times Company