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Consumers have little faith in job situation

Survey shows low confidence on job market, spending

Consumers have little faith in job situation
This is a sample of the gift vouchers to be given away for the Lunar New Year holidays. They are smaller in size than the usual currency and bear an e...
Consumers have little faith in job situation
Consumers have little faith in job situation

This is a sample of the gift vouchers to be given away for the Lunar New Year holidays. They are smaller in size than the usual currency and bear an e...

Consumers have no confidence in the employment and consumption situation, National Central University said yesterday at the presentation of its latest monthly survey.
The report showed the government should pay extra attention to jobs and to sectors like the car industry and the real estate market, the Chungli, Taoyuan County, university said.
Consumer confidence for December fell to 49.13 points from 50 in November, the survey showed.
Because of lack of faith in an imminent improvement of the employment market, consumers are also reluctant to spend money on expensive consumer goods. The car market could be particularly hard hit by that reluctance, the survey showed, while commentators also identified real estate as a sector likely to face a bleak time ahead.
"Employment fell really fast over the past two months, and consumer confidence also fell particularly fast," Fu Jen Catholic University Professor Hsieh Chang-pang said at the presentation of the survey.
He warned that if there was no rebound in the job situation, the public would find it hard to start spending on durable consumer goods.
The unemployment rate reached 4.64 percent in November, government statistics showed, with the number of citizens looking for work crossing the 500,000 mark.
Other factors in the survey rose, but from a level of no confidence at all to no confidence, Hsieh said, explaining the improvement was only marginal. The rising factors included the households' economic situation and investing in the stock market, Hsieh said.
The survey was sponsored by National Central University's Taiwan Economy Center and executed by Fu Jen Catholic University's Department of Statistics. The survey polled 2,180 Taiwan residents over the age of 20 by phone between Dec. 19 and 22. The margin of error was 2.1 percent, the organizers said.