CHINA-EMPLOYMENT: JOB LOSSES IN WAKE OF CORONAVIRUS
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CNBC reported (March 16) that 5 million Chinese had lost jobs in the first two months of 2020, pushing the unemployment rate up to 6.2%. China's National Bureau of Statistics (NBS) also revealed that retail sales plunged 20.5% over the same period in 2019, industrial output was down 13.5%, fixed asset investment fell by nearly 25%, real estate construction slid 44.9%, home sales fell 34.7% and investment in the real-estate sector was off 16.3%. The NBS said the shock of all of this is likely to last for some time, a recovery won’t be rapid or easy.
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