Feb 26, 2018AthleticComments Off on January jobless rate falls to 32-month low
Taipei, Taiwan's unemployment rate for January fell to a 32-month low as the domestic economy continued to grow steadily, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Monday.
The jobless rate fell 0.03 percentage points in January from a month earlier to 3.63 percent, the lowest level since May 2015, when it was 3.62 percent. It was also down 0.15 percentage points from a year earlier, the DGBAS data showed.
The seasonally adjusted unemployment rate was down 0.02 percentage points from December to 3.68 percent, the lowest monthly level since February 2001, according to the data.
In January, the number of unemployed in Taiwan totaled 430,000, down 3,000 or 0.75 percent from a month earlier, while the number of employed was 11.41 million, up 4,000 or 0.03 percent from December, the DGBAS said.
Pan Ning-hsin (???), deputy director of the DGBAS' census department, said the fall in unemployment resulted from a continued recovery in the local economy, which has helped improve the job market.
Last week, the DGBAS raised its forecast for Taiwan's gross domestic product (GDP) growth in 2018 to 2.42 percent, from an earlier estimate of 2.29 percent growth made in November, citing expected boosts in private consumption and investment.
The number of those who lost jobs because of businesses downsizing or shutting down fell 1,000 from a month earlier, and the number of first time jobseekers also dropped by 2,000, the DGBAS said.
In terms of age groups, the unemployment rate for people aged 20-24 was 11.65 percent in January, down 0.13 percentage points from a month earlier, and also down 0.70 percentage points from a year earlier.
The jobless rate for people 25-29 was 6.35 percent, down 0.08 percentage points month-on-month and also down 0.23 percentage points year-on-year, the DGBAS said.
Meanwhile, the jobless rate for people holding a university degree or higher was 5.04 percent, down 0.02 percentage points from a month earlier and also down 0.20 percentage points from a year earlier, the DGBAS said.
The labor participation rate for January was 58.91 percent, down 0.01 percent from a month earlier but up 0.12 percentage points from a year earlier.