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Hong Kong's unemployment climbs
[Hongkong, May 22, 2003] The Hong Kong government just released the new unemployment report for the first quarter, which says that the unemployment rate has reached an all-time high of 7.8%. This jobless situation is in part due to the rampant SARS virus, which hit hard service industries such as restaurants, hotels, retail shops, real estate, and transportation. It is expected that this unemployment situation will continue to deteriorate into the next quarter. There is growing public discontent toward the Hong Kong chief executive officer Tung, as the economy has been losing its competitiveness.
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