Government to continue boosting employment: Economics Ministry

The jobless rate was the highest among Asia's four "little dragons" -- Hong Kong, Singapore, South Korea and Taiwan -- according to a report released Tuesday by the Directorate General of Budget, Accounting and Statistics.

According to Vice Minister of Economic Affairs Lin Sheng-chung, the worsening of the unemployment rate can be attributed to the global financial crisis and the flooding last month in parts of southern Taiwan caused by Typhoon Morakot.

Although the unemployment rate is a lagging indicator that reflects economic changes that have already taken place, the government must not overlook the severity of the situation and will continue to promote various employment assistance programs, Lin said.

On the overall economic situation, Lin said he believes the worst is over and that the country's GDP growth is likely to enter positive territory in the fourth quarter.

Statistics related to trade and food service sales released a day earlier by the MOEA also reveal recovery in private consumption, he noted.

Lin made the remarks during a ceremony in which prizes were presented to businesses that have held promotional activities to help stimulate private consumption.

The recipients included the Global Mall, Shin Kong Mitsukoshi Department Store and Hankyu Department Stores, which saw their sales for the first four months of this year increase by 29.5 percent, 3.09 percent, and 5.67 percent year-on-year, respectively.

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