Jobless rate down for 3rd straight month to 25-year November low

Taipei, Dec. 22 (CNA) Taiwan's jobless rate fell from a month earlier for the third consecutive month in November due to a decline in first-time jobseekers, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Monday.

Data compiled by the DGBAS showed the local unemployment rate fell 0.03 percentage points from a month earlier to 3.33 percent last month, the lowest for November since 2000, when the jobless rate stood at 3.23 percent.

However, after seasonal adjustments the November jobless rate rose 0.02 percentage points from October to 3.35 percent, the data indicated.

The number of unemployed fell 3,000 or 0.86 percent from a month earlier to 401,000 in November, while the number of employed rose 4,000 or 0.04 percent to 11.64 million, with the labor participation rate at 59.57 percent, up 0.03 percentage points from October, the DGBAS said.

In the first 11 months of this year, Taiwan's jobless rate averaged 3.35 percent, down 0.04 percentage points from a year earlier, the DGBAS added.

In November, the number of first-time jobseekers fell 4,000 from a month earlier, marking the third consecutive month-on-month decline, while the number of those who lost jobs due to business closures or downsizing also fell 2,000.

By education level, those with a university degree had the highest unemployment rate at 4.52 percent in November, while the jobless rate was 2.29 percent for individuals with a senior high school education and 2.14 percent for those with a junior high school education, the DGBAS added.

In addition, unemployment among the 20-24 age group was 11.70 percent in November, reflecting the high concentration of first-time job seekers, while the rate was 5.85 percent for the 25-29 age group and 10.55 percent for the 15-19 age group, the DGBAS said.

DGBAS data also showed that 124,000 people were in time-related underemployment in November, down 2,000 from a month earlier, the second straight month that the figure moved lower.

Tan Wen-ling (譚文玲), deputy director of the agency's Census Department told reporters that despite uncertainty caused by the U.S. tariff polices, the local job market remains resilient.

However, Tan described the number of people placed in time-related underemployment as "a bit high," saying after Taiwan and the United States conclude tariff talks, the number could move lower.

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.