The Roubini monitor posted a tidbit from a Chinese Official. According to official figures they've lost about 35 million jobs so far. Given that their labor force is about 450 million. That would put their unemployment rate at about 7.8%.
I think the 2006 India unemployment rate (2006 is the last year for which official figures are available) was about 7.3%. China's unemployment rate in 2006 was 4%. So assuming the same rate of jobless-ness - that would put India's unemployment rate at 14%?
Quantunes 001 – Retail Illusion
1 week ago
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