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TAIPEI: The "Ministry of Economic Affairs" (MOEA) pledged yesterday that the government will continue its efforts to boost employment. The assurances follow a surge in the August unemployment rate to a record high of 6.13 percent.

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

MOEA deputy chief Lin Sheng-chung said the worsening of the unemployment rate can be attributed to the global financial crisis and to flooding last month in parts of southern Taiwan caused by Typhoon Morakot.

Although the unemployment rate is an indicator that reflects economic changes that have already taken place, the government cannot overlook the severity of the employment problem and will continue to promote employment assistance programs, Lin said.

On the overall economic situation, Lin said he believes the worst is over and that Taiwan'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 staged promotions aimed at stimulating private consumption. 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.

China Daily/CNA

(HK Edition 09/24/2009 page2)