SINGAPORE: Singapore's unemployment rate could worsen, possibly matching levels now seen in Hong Kong if the city-state does not take steps to cut costs, Senior Minister Lee Kuan Yew said in remarks published yesterday in the Straits Times.
“If we stay on our old course, our unemployment will go up from 4.9% to 8.5% as in Hong Kong with 300,000 unemployed,” he said late Friday.
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