Taipei, Jan. 22 (CNA) Taiwan's unemployment rate for December 2019 dropped slightly from a month earlier, indicating that the local job market remained stable, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Wednesday.
DGBAS data showed the country's jobless rate for December at 3.67 percent, down 0.06 percentage points from a month earlier, while after seasonal adjustments it was 3.72 percent, a monthly decline of 0.01 percentage points.
For 2019, Taiwan's average jobless rate rose 0.02 percentage points from a year earlier to 3.73 percent, while its average labor participation rate stood at 59.17 percent, up 0.18 percentage points from a year earlier, the DGBAS said.
DGBAS Census Department Deputy Director Pan Ning-hsin (潘寧馨) said that as the local economy continued to grow amid easing trade tensions between Washington and Beijing, the local job market also remained stable.
The unemployment rate moved in a small range between 3.71 percent and 3.75 percent for the year, indicating a stable job market, he said.
In December 2019, the number of people who lost jobs fell by 8,000, or 1.78 percent, from a month earlier to 439,000, while the number of employed rose by 5,000, or 0.05 percent, to 11.53 million, according to the DBGAS data.
The labor participation rate for that month was 59.22 percent, down 0.03 percentage points from November, the data showed.
Meanwhile, the number of first-time jobseekers decreased by 5,000 in December from a month earlier, and the number of people who got out of the job market due to business downsizing or closures and termination of temporary or seasonal job contracts dropped by about 4,000, the data showed.
In 2019, the unemployment rate among people with a university degree was 5.30 percent, the highest among all education groups, according to the DGBAS.
Among those with a graduate degree it was 2.93 percent, and among people with only a high school diploma the jobless rate was 3.51 percent, the DGBAS said.
By age, the 2019 unemployment rate for individuals 20-24 years was the highest at 12.27 percent, an increase of 0.29 percentage points from a year earlier, the DGBAS said.
The jobless rate was 9.22 percent among people aged 15-19, and 6.57 percent in the 25-29 age group, the DGBAS said.