Taiwan: Historic Unemployment Drop
According to a recent survey, as a result of
Below are extracts from an article written by James Peng and published by Bloomberg.com:
The seasonally adjusted rate declined to 3.9 percent from 4 percent in April, according to the median estimate of 11 economists surveyed by Bloomberg News. The rate reached 3.8 percent in September and October, the lowest since February 2001. […]
Job gains may drive wage increases, stoking consumer spending and helping sustain
``We did see some banks have re-started the recruiting process,'' said Forest Chen, chief economist at Taiwan Securities Investment Advisory in
Credit-card issuers such as Chinatrust Financial are adding more workers to regenerate business lost after incurring bad loans two years ago.
[…]
Economic Growth
Taiwanese banks' bad debts began swelling in 2005 when consumers failed to pay credit card bills. Banks wrote off NT$115.2 billion of credit-card debt last year, more than twice the NT$48.3 billion in 2005, according to the island's Financial Supervisory Commission.
Signs of faster growth in