Jobless rate higher in August on rise in first-time jobseekers

Taipei, Sept. 23 (CNA) The local jobless rate rose slightly from a month earlier to 3.48 percent in August, driven mostly by an increase in first-time jobseekers in the labor market, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Monday.

The unemployment rate in August rose 0.03 percentage points from July to 3.48 percent, the third consecutive month in which it rose, according to DGBAS data.

After seasonal adjustments, the unemployment rate was 3.36 percent in August, up 0.02 percentage points from a month earlier, the data indicated.

In the first eight months of 2024, Taiwan's unemployment rate fell to 3.39 percent, down 0.13 percentage points from a year earlier, DGBAS data showed.

The number of unemployed in August rose 4,000, or 0.98 percent, from a month earlier to 419,000, while the number of employed totaled 11.61 million, up 2,000 or 0.02 percent from a month earlier.

The labor participation rate in August was 59.42 percent, up 0.02 percentage points from July, DGBAS data showed.

Tan Wen-ling (譚文玲), deputy director of the DGBAS' Census Department, said that despite the increase in the August jobless rate, it was still the lowest for the month of August since August 2000, when it was 3.16 percent.

Tan called the slight growth in unemployment after seasonal adjustments in August "acceptable" and indicated that Taiwan's job market remained stable.

In August, the number of first-time jobseekers rose 3,000 from a year earlier as new graduates and part-time jobseekers on their summer vacation jumped into the market, the DGBAS said.

The number of those who lost jobs due to business closures or downsizing grew also 2,000 from a month earlier, while the number of those who quit their jobs fell 1,000 from a month earlier in August, the DGBAS said.

By education level, the unemployment rate among those with a university degree was 4.61 percent in August, the highest among all educational levels, the DGBAS said.

The rate for individuals with a senior high or junior high school education were 3.29 percent and 2.17 percent, respectively, in August, according to DGBAS figures.

By age, the unemployment rate for those aged 20-24 in August was 12.21 percent because of the high concentration of first-time jobseekers in the age group, but was only 6.01 percent for those aged 25-29, the data showed.

The DGBAS said the jobless rate could fall in September as more first-time jobseekers landed jobs.