Jobless rate up for 3rd straight month in August on graduation season

Taipei, Sept. 22 (CNA) Taiwan's unemployment rate rose in August for the third straight month, as more first-time jobseekers entered the labor market during graduation season, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Monday.

Data compiled by the DGBAS showed the August unemployment rate rose 0.05 percentage points from a month earlier to 3.45 percent.

After seasonal adjustments, the local jobless also rose 0.02 percentage points from July to 3.35 percent in August, the data indicated.

In the first eight months of this year, Taiwan's unemployment rate averaged 3.35 percent, down 0.04 percentage points from a year earlier.

Speaking with reporters, Tan Wen-ling (譚文玲), deputy director of the agency's Census Department, said the latest jobless rate was boosted by an increase in first-time jobseekers but is still the lowest in August for 25 years.

Graduation season effects are expected to fade starting this month, Tan said.

In August, the number of unemployed rose 6,000 or 1.52 percent from a month earlier to 415,000, while the number employed rose 3,000 or 0.03 percent from July, to 11.64 million with the labor participation rate at 59.58 percent, up 0.07 percentage points from a month earlier.

The DGBAS said the number of first-time jobseekers rose 2,000 from a month earlier in August, while the number of those who lost jobs due to business closures and business downsizing also moved higher by 3,000 from a month earlier.

In addition, the number of those who were unhappy with their original jobs who quit to find another job also rose 2,000 from a month earlier in August.

By education level, those with a university degree had the highest unemployment rate at 4.68 percent in August, the DGBAS said.

The jobless rate was 3.03 percent for those with a senior high school education and 2.35 percent for those with a junior high school education in August, the DGBAS added.

In addition, unemployment among those aged 20-24 was 12.08 percent in August, reflecting the high concentration of first-time job seekers in that group, while the rate was 5.92 percent for the 25-29 age group and 8.71 percent for the 15-19 age group, according to the DGBAS.

DGBAS data also showed that 121,000 people were in time-related underemployment in August, up 4,000 from a month earlier.

The number of people in August time-related underemployment hit the highest this year, Tan said, adding that the increases came from the impact of U.S. tariff polices, which forced some Taiwanese exporters to place their workers on furlough programs.

If the jobless rate continues to rise in September despite fading graduation seasons effects, that could mean the U.S. tariff impact will become more apparent, Tan said.

The International Labor Organization defines time-related underemployment as workers whose hours are insufficient compared with a more desirable employment situation in which they are willing and available to work more.