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Seasonally adjusted unemployment rate hits lowest level since 2000

09/22/2023 09:07 PM
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Two passersby walk past an employment assistance center in Kaohsiung Friday. CNA photo Sept. 22, 2023
Two passersby walk past an employment assistance center in Kaohsiung Friday. CNA photo Sept. 22, 2023

Taipei, Sept. 22 (CNA) Taiwan's seasonally adjusted unemployment rate dipped to 3.42 percent in August to reach its lowest level since December 2000, according to figures released by the Directorate of Budget, Accounting and Statistics (DGBAS) on Friday.

The unadjusted unemployment rate remained at 3.56 percent, the same as in July, which is the lowest August rate logged for 23 years.

According to DGBAS, a higher unemployment rate tends to be seen during the graduation season -- between June and August - but this has not materialized this year.

DGBAS Census Department Deputy Director Chen Hui-hsin (陳惠欣) said, that increasing domestic demand in the service industry had led to more graduates finding jobs quickly.

The average time it took a first-time job seeker to find a job was 14.6 weeks in August, less than the 15.5 weeks in July, and a significant decrease of 5.6 weeks compared to August 2022, she added.

In addition, the number of job losses caused by the closure or downsizing of businesses was reduced, and the local job market was relatively stable, Chen said.

By education level, the unemployment rate among university graduates was at 4.91 percent, the highest of all education levels, while the rate for individuals with a senior high school education or postgraduate degree was 3.25 percent and 2.88 percent, respectively, according to DGBAS data.

By age, the unemployment rate for those aged 20-24 in August was 12.47 percent, the majority of whom were first-time job seekers, while the rate stood at 8.46 percent for those in the 15-19 age group, and at 5.90 percent for those aged 25-29, the data indicated.

Although increasing demand in the local service sector saw 5,000 individuals newly employed in the industry in August, Chen said that weakening overseas demand had continued to impact Taiwan's export-oriented manufacturing sector, leading to 2,000 fewer people being employed in the industry in August, compared to July.

(By Pan Tzu-yu and Bernadette Hsiao)


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