Taiwan jobless rate falls to 4.02 percent in July

2014-08-26

Taiwan’s job market continued to improve in July, with the unemployment rate dropping 0.23 of a percentage point year on year to 4.02 percent, the lowest for the month in 14 years, according to the Directorate-General of Budget, Accounting and Statistics Aug. 22.

The number of jobless fell to 464,000, down 23,000 from a year ago, while employment hit 11.09 million, up 107,000 over the same period.

“Continuously improving conditions at home are prompting the public and private sectors to hire more workers,” a DGBAS official said. While the July figure was a slight increase from the previous month, the official attributed the blip to the seasonal effect of new graduates seeking employment.

Unemployment averaged 3.98 percent for the first seven months of the year, down 0.17 of a percentage point to the lowest since 2008.

With more jobs on offer, the DGBAS expects unemployment to fall again in September.

Improving conditions were also reflected in wage levels, with the average monthly wage for the first six months of the year reaching a new high of NT$50,343 (US$1,678), up 4.11 percent from a year ago.

After adjusting for inflation, the monthly average of NT$48,622 at 2011 prices is a gain of 2.86 percent over the period to the highest level in three years.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=220939&CtNode=413)