Taiwan's economic growth rate in the first quarter of this year will stand at around 3 percent, Lee Kao-chao (
According to Lee, Taiwan's economic history shows that if economic growth can maintain a level of 6 percent, the unemployment rate will not increase.
However, he said, Taiwan has suffered increased unemployment month on month since July 2000, when the jobless rate broke the 3 percent mark.
Just last Friday, the Directorate General of Budget, Accounting and Statistics announced that unemployment in February rose to 3.7 percent from January's 3.5 percent, seasonally adjusted, making it the highest since the government began compiling figures in 1978.
Lee said the rising jobless rate indicates that the pace of the country's economic slump has been much more serious than expected.
Wu Chung-shu (
Both Lee and Wu's estimates of Taiwan's economic growth rate in the first quarter of this year are much lower than that predicted earlier by the directorate as Taiwan's electrical and electronic exports to the US have decreased significantly thus far this year. Exports -- the powerhouse of Taiwan's economic growth -- fell 4.4 percent in the first two months of the year in comparison with a year ago.
Because Taiwan's exports in the next three months will likely continue to fall as demand from the US and Japan slow, which in turn will put more people out of work, the council convened a cross-ministry meeting yesterday, aiming to generate measures for boosting domestic employment.
Premier Chang Chun-hsiung (
Council chairman Chen Po-chih (
First, traditional industries facing difficulties will receive priority assistance from the government to prevent firms from making more layoffs. Second, Chen said, in addition to existing government-run vocational training departments, the Cabinet will probably entrust private organizations to serve as links among job seekers and potential employers.
Third, the government will amend labor regulations to reinforce the domestic job market and encourage part-time employment.
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