Unemployement rates

I read in a career magazine here that Taiwan now has the world’s 4th highest level of umemployment at 5.2%. Germany tops the list at 9.2% followed by France, Canada, Taiwan then Japan.

It’s been a while since I paid attention to world economics, but this seems pretty unbelievable to me. Last I looked most western countires had much higher rates. Anyone know?


Come on. Taiwan has a higher rate than Indonesia, Bangledesh, Rwanda, Brazil?

Here, the first ten or so entries from the CIA world fact book:

Albania: 16% (2000 est.) officially; may be as high as 25%
Algeria: 30% (1999 est.)
American Samoa: 16% (1993)
Andorra: 0%
Angola: extensive unemployment and underemployment affecting more than half the population (2000 est.)
Anguilla: 7% (1992 est.)
Antigua and Barbuda: 7% (1999 est.)
Argentina: 15% (December 2000)
Armenia: 20% (1998 est.)

note: official rate is 9.3% for 1998

Originally posted by dbbowman: Come on. Taiwan has a higher rate than Indonesia, Bangledesh, Rwanda, Brazil?

South Africa (my home) must be right on top I reckon - hahaha - actually, It’s not a laugh at all …

Why is it that people here love to run around screaming about how bad the economy is? I got really sick of hearing about it even before the economy got so bad. This kind of behavior precipitated the recession, or at least had something to do with it.

They even go so far as to make up ‘facts’ like the one you mentioned, without any real research. It’s a real frenzy, for some reason I don’t understand. It’s like a big mind game everyone is in on. People go out of their way to pound it in that the economy is bad, it’s bad I say! Sell your stocks! Fire your staff! Don’t buy anything! Aren’t you listening? It’s bad!

Yes. I know. It’s bad. I heard. Stop it.

I suppose people are comparing their this years bonuses with the previous years, well then I guess it figures.

Hi Bri, just my two cents worth.

It would be interesting to note what source Career Magazine cited. Something I’ve learned recently is that Unemployment Rates are not directly comparable across borders. At least, not as much as we’d like to think. So any comparison of, well, any National Income Accounting figures (and their ilk) ought to be footnoted.

This is partly why there are organizations like the OECD, who publish such numbers that are collected using methods that are comparable. And even with these comparisons, its nice to keep a pinch of salt handy.

Now, if the magazine article is going to gripe about Taiwan’s Unemployment levels, I doubt they are basing their analysis of Taiwan compared to, say, the Philippines. In fact, the OECD is probably a more likely comparison.

Should the magazine be more careful about this? Strictly speaking: yes. But in practical terms, no – becuase it makes the assumption (a fair one, imho) that its paying readers keep in mind this distinction.

Btw, that Germany figure isn’t as serious as it may initially seem, btw. Oh, it’s high, for sure, but i wonder if it is alarming. What can you say? It’s the Press.

Paogao, I agree with you findamentally about the self-fulfilling attitude many people I know in Taiwan take about the country’s prospects. I only have to look at MY country (the Philippines), to feel that people in Taiwan have it good, even now.