Unemployment falls to two-year low in May

Taiwan's unemployment rate continued a steady decline in May and fell to a two-year low. That's according to the latest government figures.

May's jobless rate was 3.66%, a slight dip from the previous month and a 0.18% drop year-on-year. The average unemployment rate for the first five months of the year has also dropped compared to 2016.

May saw a total of 11.3 million people employed, 6,000 more than April and 84,000 more than May 2016. The government statistics office remains conservative on the nation's economic recovery, however. It says growth has not reached the same level as 2015.

The office also released figures on average pay and working hours. Overtime was eight hours per person on average from January to April, similar to last year's levels. Overtime pay saw an average increase of around 9% year-on-year. The office said the uptick shows the benefit of the new labor law. This allows employees to be more flexible with their schedule and earn higher overtime pay.

Source: Radio Taiwan International