Taiwan’s jobless rate dips to 3.75% in October

Taipei, Nov. 22 (CNA) Taiwan's unemployment rate has continued to fall, dropping to 3.75 percent in October as the domestic job market remained stable, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Thursday.

The jobless rate in October was 0.01 percentage points lower than the previous month, but was unchanged from the same month last year, DGBAS data showed.

After seasonal adjustment, the jobless rate for October was 3.70 percent, the same as in September and a year earlier, according to the data.

The labor participation rate in October was 59.08 percent, an increase of 0.17 percentage points from a year earlier and 0.03 percentage points higher than the previous month, according to the data.

In October, the number of unemployed people fell by 1,000, or a monthly 0.22 percent, to 446,000, while the number of employed persons increased by 11,000, or 0.10 percent from the previous month, to 11.46 million, the data showed.

In the first 10 months of the year, the local jobless rate averaged 3.71 percent, down 0.06 percentage points from a year earlier, while the labor participation rate stood at 58.97 percent, up 0.16 percentage points year-on-year, according to the DGBAS.

The drop in the jobless rate in October was mainly because of a higher comparison base from June to August, when new graduates entered job market, the DGBAS said.

By September, that effect had started to fade and the local unemployment rate fell 0.11 percentage points from the previous month and 0.01 percentage points from a year earlier to 3.76 percent, the DGBAS said.

It was the lowest unemployment rate in Taiwan for the month of September since 2000, when it registered 3.10 percent, according to the DGBAS.

Source: Focus Taiwan News Channel