Taiwan's unemployment rate falls to 24-year low in June

Taipei, July 22 (CNA) Taiwan's jobless rate rose slightly in June but was still the lowest for the month in 24 years, the Directorate General of Budget, Accounting and Statistics (DGBAS) reported Monday.

Taiwan's unemployment rate edged up 0.05 percentage points in June from a month earlier to 3.39 percent after having fallen the previous three months, largely due to an increase in first time jobseekers after they graduated from high school or college, according to the DGBAS.

The latest unemployment figure was the lowest recorded in June since 2000, when the jobless rate was 2.89 percent, DGBAS data showed.

After seasonal adjustments, the unemployment rate remained relatively unchanged, slipping 0.01 percentage points from a month earlier to 3.34 percent, according to the data.

DGBAS Census Department Deputy Director Chen Hui-hsin (陳惠欣) said that unemployment hit a 24-year-low for the month because the manufacturing sector is picking up steam and service sector demand remained solid.

In the first six months of 2024, Taiwan's jobless rate was down 0.15 percentage points from a year earlier to 3.36 percent, also the lowest level for the same period in 24 years, the DGBAS said.

In June, the number of unemployed totaled 406,000 people, an increase of 6,000 from a month earlier, but down 11,000 from a year earlier, the data showed.

The number of unemployed people seeking work for the first time increased by 4,000, and the number of people unemployed due to dissatisfaction with their original jobs also increased by 1,000, according to the DGBAS.

Meanwhile, the DGBAS on Monday released data on unemployment rates in different regions around Taiwan for the first half of 2024.

The jobless rate was 3.4 percent in both northern and central Taiwan, 3.3 percent in southern Taiwan, and 3.2 percent in eastern Taiwan.

Chen indicated that in the first six months, the unemployment rates in cities and counties largely registered a decline of 0.1-0.3 percentage points to the 3.2-3.4 percent range, indicating that the domestic job market remained stable.