Broadcast: Jan 31 2003

Japan's jobless rate stands at a post-war high of 5.5 percent for December, rising from 5.3 percent in November.

Labor Minister Chikara Sakaguchi said the jobless condition reflects the current ²⁾fragile economy. He said there is a need to create measures to deal with it.

The situation is expected to get worse as the government pushes its reform agenda to clean up the banking industry and create a more competitive business sector.

In order to bring more jobs on line, the Japanese parliament approved a $25 billion spending package. Half the funds will go for public works projects and the rest for so-called "safety-net measures" to help small business owners who hire the jobless.

Some economists have criticized the package, saying that spending alone cannot solve Japan's problems - which include deflation and a weak stock market.

Still, some Japanese companies are managing to thrive. Sony posted a record profit in the third quarter of the year to more than $1 billion. That is nearly double from the same period last year.

The electronics and entertainment giant partly attributes its healthy performance to a string of box office hits, including the movie, Spider-Man. Strong sales in its video game businesses also helped. However, Sony officials warn weak consumer spending in the United States could weigh on full year earnings.

Amy Bickers VOA news, Tokyo.

1)     Unveil[Qn5veil]vt. 使公诸于众, 揭开, 揭幕

2)     fragile[5frAdVail]adj. 易碎的, 脆弱的