01-20-2009, 10:21 AM
<b>China Faces Worst Unemployment in Decades as Slowdown Deepens </b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Jan. 20 (Bloomberg) -- Chinaâs official urban unemployment rate jumped for the first time since 2003 and may climb to an almost 30-year high as exports slump and a slowdown deepens in the worldâs third-biggest economy.
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During the fourth quarter of last year, the number of <b>registered jobless in cities jumped 560,000 to 8.86 million</b>, the official said.
Premier Wen said yesterday that China was facing its most challenging year so far this century and the government needed to urgently reverse the economic slide.
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30 -40 years back, China got involved in Vietnam and Korea, before that India.
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During the fourth quarter of last year, the number of <b>registered jobless in cities jumped 560,000 to 8.86 million</b>, the official said.
Premier Wen said yesterday that China was facing its most challenging year so far this century and the government needed to urgently reverse the economic slide.
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30 -40 years back, China got involved in Vietnam and Korea, before that India.