This acceleration in the pace of growth impacted favourably on the demand for labour, causing the US unemployment rate to edge lower to 6 per cent in October 2003. The real gross domestic product of Japan also increased at stronger-than-expected rates during 2003, while growth in China remained high.
If the PTCL itself is able to expand its services and operations, the manpower that is surplus to its present requirements can be productively employed. Thus the fears of 8 workers losing protection under a privatized entity appear to be misplaced. After all, the PTCL is the only telecom company that has been in the business for the last 58 years.