Taiwan unemployment falls to 3.64pct in January

28-Feb-2019 Intellasia | Focus Taiwan | 6:00 AM Print This Post

The jobless rate in Taiwan dropped 0.02 percentage points in January from a month earlier to 3.64 percent, government statistics showed Tuesday.

The January unemployment rate was the lowest since May 2018, when it stood at 3.63 percent, according to data from the directorate general of Budget, Accounting and Statistics (DGBAS).

However, the January figure was 0.01 percentage points higher than a year earlier, and after seasonal adjustments, stood at 3.72 percent, up 0.02 percentage points from the previous month, the DGBAS said.

Pan Ning-hsin, deputy director of the DGBAS census department, told the press that the second consecutive monthly increase in unemployment after seasonal adjustments reflected a slowdown in the growth of the domestic economy.

On February 13, the DGBAS lowered its forecast for Taiwan’s 2019 economic growth to 2.27 percent from its projected 2.41 percent increase, which was made last November, and estimated the 2018 growth at 2.63 percent.

In January, the number of people out of a job fell by 2,000, or 0.43 percent, from a month earlier to 434,000, the DGBAS data showed.

Meanwhile, the number of employed people rose by 4,000, or 0.04 percent, from the previous month to 11.49 million, according to the data.

The labour participation rate remained unchanged from the previous month at 59.09 percent, the data showed.

In January, the number of those who quit their jobs to seek other employment fell by 2,000 from a month earlier, while the number of first time jobseekers dropped 1,000, according to the DGBAS. Those who lost their jobs due to business closures or downsizing rose by 2,000, the DGBAS said.

It said the jobless rate among people aged 20-24 was 11.73 percent in January, and in the 25-29 age group it was 6.29 percent.

Among people with a university degree, the jobless rate in January was 5.03 percent, the highest among all education groups, while among people holding a senior high school diploma and those with a graduate school degree, it was 3.52 percent and 2.79 percent, respectively, the DGBAS said.



Category: Taiwan

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