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Milken Institute’s
first ranking of the economic performance of Asia’s major cities was based on
actual economic performance assessing job and income growth, and the strength
of industries on the extent of economic value they add, it said in a statement.
The Best-Performing
Cities Asia 2014: the Region’s Most Dynamic Economies ranked six Chinese cities
in its top 10, with Shenzhen leading the way.
“Above all other
factors, it is job creation that drives the formation and expansion of the
middle class in Asia’s most dynamic cities,” said Milken Institute’s chief
research officer Ross DeVol, who was also one of the authors of the study.
He added that the
data-based index highlights the urban economies that are doing the best job in
both creating jobs and transitioning to a higher value-added, more sustainable,
growth rate.
The report noted that
KL recorded the third strongest job growth over the past five years, and its
ranking was supported by a high per-capita household income.
Unemployment rate was
at 3.2 per cent last year, with the labour force of over 900,000 people, it
noted, adding that 35 per cent of the labour force has tertiary education.
“... with a large
domestic market and an established financial sector, Kuala Lumpur
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http://www.themalaymailonline.com/malaysia/article/kuala-lumpur-bags-sixth-spot-in-best-performing-asian-cities-survey-beating#sthash.xd65EaUn.dpuf
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