Unemployment hit its lowest rate in 19 months in January. That's according to government figures released Friday.
January's unemployment rate stood at 3.78%, slightly down from the previous month and the lowest since July 2015. The figure is also the lowest for the month of January in the last 16 years.
An analyst at the government's statistics office said lower unemployment among first-time employees and an increasing number of openings around the Lunar New Year were the main reasons for the low figure.
The analyst said gradual economic recovery from the second half of 2016 is creating a stable job market. However, the effects of the recent labor law revision, which gives employees one more day off, remain to be seen.