Jobless rate down slightly in October

11/22/2019 07:38 PM
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Taipei, Nov. 22 (CNA) Unemployment in Taiwan fell slightly in October from a month earlier, indicating the local job market remains stable, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Friday.

The jobless rate in October was 3.77 percent, down 0.03 percentage points from September, with the number of those without a job during the month falling by 4,000 or 0.84 percent, to 451,000, DGBAS figures showed.

On a seasonally adjusted basis, the October unemployment rate was 3.72 percent, down 0.02 percentage points month-on-month, but up 0.02 percentage points from a year earlier, according to the DGBAS.

For the first 10 months of 2019, the seasonally adjusted jobless rate was 3.73 percent, also slightly higher than for the same period in 2018.

The number of employed totaled 11.52 million in October, up 10,000, or 0.09 percent, from a month earlier, while the labor participation rate also rose 0.02 percentage points to 59.24 percent, DGBAS figures showed.

The number of those who lost their jobs due to business closures or downsizing fell 3,000 from a month earlier in October, which the DGBAS said indicated that local economic fundamentals remain healthy even as the U.S.-China trade dispute hurts global demand.

By education level, the jobless rate for people with a university degree was 5.49 percent in October, the highest among all education groups.

It was 3.49 percent for people with a high school diploma and 3.09 percent for those with a graduate school degree, according to the DGBAS.

By age group, the October unemployment rate for those aged 20-24 of 12.86 percent was the highest for any age bracket. Those aged 15-19 had an unemployment rate of 9.81 percent, and those aged 25-29 had a jobless rate of 6.70 percent, the DGBAS said.

(By Yang Kai-hsiang and Frances Huang)

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