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Taiwan's jobless rate falls to 3.64% in October

11/22/2022 05:51 PMListen

Taipei, Nov. 22 (CNA) The unemployment rate in Taiwan fell slightly to 3.64 percent in October, as the closure and downsizing of businesses eased, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said Tuesday.

According to DGBAS data, the jobless rate dropped 0.02 percentage points from September, marking the second consecutive month of decline. After seasonal adjustments, however, the rate was 3.64 percent, same as the month before, the data showed.

In October, the number of unemployed people in Taiwan fell by 2,000, or 0.51 percent, from a month earlier to 431,000, which was a decline of 25,000, or 5.46 percent, year-on-year, the DGBAS data indicated.

The number of employed people rose in October by 13,000, or 0.12 percent, to 11.41 million, with the labor participation rate increasing 0.01 percentage points to 59.18 percent, from the previous month, according to the DGBAS.

In the first 10 months of the year, the country's jobless rate averaged 3.69 percent, down 0.33 percentage points from a year earlier, while its labor participation rate stood at 59.18 percent, up 0.18 percentage points from the previous year, the DGBAS said.

In October, the number of people who lost jobs due to business closure or downsizing dropped by 3,000 from a month earlier, which contributed significantly to the lower unemployment rate, the DGBAS said.

The unemployment rate among people with a university degree was 5.22 percent in October, the highest among all education groups, while the rate among those with senior high school or junior high school education was 3.25 percent and 2.57 percent, respectively, according to DGBAS figures.

By age, the jobless rate was 12.27 percent in the 20-24 age group in October, with the majority of them being first-time job seekers, while it was 9.06 percent in the 15-19 age category, and 6.14 percent among those 25-29, the data indicated.

(By Pan Tzu-yu and Frances Huang)

 

Source, https://focustaiwan.tw/business/202211220016

 

 

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