Economic recovery, new work rules boost manpower demand: job bank

Taipei--The economic recovery has boosted demand for manpower in Taiwan, pushing the number of new job openings as of the end of July by about 7 percent from a year earlier, 1111 job bank said Tuesday, referring to statistics compiled by its online data bank.

In addition, the job bank also cited recently implemented work rules as a reason for the rising demand from employers to boost their workforces in a bid to meet the requirements of the work rules, the job bank said.

It said that as of the end of July, the number of new job openings posted on the 1111 database topped 400,000, up 7 percent from a year earlier, at a time when the local job market has been improving in line with the economic recovery.

According to 1111 job bank, July was the second consecutive month in which the number of aggregate job openings hit a new high in 18 years.

With the local economic fundamentals improving, the jobless rate for June fell 0.18 percentage points from a month earlier to 3.74 percent, while after seasonal adjustments, unemployment stood at 3.78 percent, a new low for 22 months.

The job bank said that the better economy has made many employees bolder and more willing to seek new jobs for higher pay.

The job bank said that the new work rules have prompted employers to increase their workforces to meet with regulatory requirements.

Under the new regulations, which took effect in December 2016, the maximum number of work hours has been reduced from 84 hours per two weeks to 40 hours per week, with one mandatory day off and one flexible rest day each week.

Employers are now required to pay overtime for work carried out on the flexible day off, but many employers and employees have complained that the new rules leave less leeway for more flexible work schedules, even if both sides agree.

In the survey, the job bank found that the old economy sector, information technology and the service sector were the top three industries that saw the highest growth in hiring.

According to the survey, hiring growth in the old economy sector hit 14.8 percent, growth in the information technology sector reached 14.2 percent, and growth posted in the services sector stood at 8.8 percent.

The job bank said that employees aged 41-45 who have been in the job market for 10-20 years appeared more willing to change their jobs, with the number of resumes submitted by this age group in July up 32.6 percent from a year earlier.

Source: Overseas Community Affairs Council