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.
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