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Jobless rate down in December

2018/01/22 19:34:56

Taipei, Jan. 22 (CNA) Unemployment in Taiwan fell slightly in December from a month earlier on the back of an improvement in the local economy, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Monday.

Data compiled by the DGBAS showed the jobless rate in December stood at 3.66 percent, down 0.05 percentage points from a month earlier. The December figure also fell 0.13 percentage points from a year earlier, the data indicated.

However, after seasonal adjustments, the December unemployment rate rose 0.01 percentage points from a month earlier to 3.70 percent, according to the data.

In 2017, Taiwan's jobless rate averaged 3.76 percent, the lowest since 2000, when the figure stood at 2.99 percent, which served as additional evidence for the stable pace of economic growth, the DGBAS said. The 2017 figure was down 0.16 percentage points from 2016.

In December, the number of those who lost jobs totaled 433,000, down 6,000 or 1.41 percent from a month earlier, while the number of people employed rose 7,000 or 0.06 percent to 11.41 million with the labor participation rate at 58.92 percent, the DGBAS said.

In the month, the number of first time jobseekers fell 3,000 from a month earlier, and the number of those who quit as a result of being unhappy with their job dropped 2,000, the DGBAS said.

The number of those who lost jobs due to termination of seasonal and temporary contracts fell 1,000 in December from a month earlier, the DGBAS added.

Pan Ning-hsin (潘寧馨), deputy director of the DGBAS' census department, said the December job data showed Taiwan currently has a stable job market as the local economy recovers.

The DGBAS in November forecast gross domestic product growth of 2.58 percent for 2017, up from 1.41 percent in 2016, as the export-oriented economy benefited from strong demand in the global market. GDP growth for 2018 is forecast at 2.29 percent.

In terms of age group, the unemployment rate for ages 20-24 was 11.78 percent in December, down 0.22 percentage points from a month earlier, and the jobless rate for people 25-29 stood at 6.43 percent, down 0.07 percentage points, the DGBAS said.

The jobless rate in the two categories also fell 0.71 percentage points and 0.2 percentage points, respectively, from a year earlier in December, the DGBAS added.

The jobless rate for people holding a college degree or higher was 4.56 percent, down 0.06 percentage points from a month earlier and also down 0.14 percentage points from a year earlier, the DGBAS added.

In 2017, the unemployment rate averaged 443,000, down 17,000 from a year earlier, while the number of people employed averaged 11.35 million, up 85,000 from a year earlier with a labor participation of 58.83 percent, the DGBAS said.

(By Chen Cheng-wei and Frances Huang)
Enditem/AW