Word: sectoral
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...China's faltering economy--exports and overall growth were down significantly in the fourth quarter of 2008--some 15% of its migrant workers are now jobless. This labor force, composed of rural peasants who travel to cities for factory jobs, is the backbone of the country's manufacturing sector. The Chinese government has said it may increase its $585 billion stimulus plan...
...economy to contract 0.2% this year. And for the first time since the collapse of the Soviet Union in 1991, the threat of large-scale unemployment looms. "Money was falling from the sky in the past two to three years," says Maxim Oreshkin, the head of research at private-sector Rosbank in Moscow. "Now it's stopped falling...
...companies that tap TARP in the future. The restrictions will apply until a bank pays off its TARP tab and starts behaving. According to an Administration source, "If a bank has restored viability, has paid back the United States government with interest, and is now a completely private-sector bank ... then we can return to a time when this is between them and their shareholders...
Officials have come under similar pressure in Ireland. Irish workers want construction companies to give precedence to Irish laborers over foreigners. Some 300,000 Polish workers flocked to Ireland's once booming building sector after Poland joined the E.U. in 2004. But the real estate market in Ireland has collapsed over the past year. Thousands of Poles have returned home, but many remain - leading to rising tensions as local and foreign workers compete for fewer jobs...
That's unlikely to prevent the protectionist winds blowing elsewhere, though. Last week's massive strikes in France, for example, were motivated by demands that the government do more to protect public- and private-sector jobs threatened by both recession and economic reforms. Polls showed that nearly 70% of the public supported the demonstrations; new surveys show that more than 61% of people back renewed strikes this month...