Unemployment falls to 7-year low for Nov.


CNA

TAIPEI–Taiwan’s unemployment rate fell slightly in November to 3.89 percent, the lowest for that month in seven years, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Monday.

The figure represents a monthly drop of 0.06 percentage points as the labor participation rate increased 0.02 points, or by 17,000 people, to 58.66 percent, DGBAS figures showed.

In the first 11 months of the year, Taiwan’s jobless rate averaged 3.97 percent, down 0.22 percentage points from the same period of last year to a seven-year low.

In November, the number of unemployed fell 6,000 from a month earlier to 451,000. The number of first-time jobseekers was 4,000 lower and the number of those who were out of a job due to termination of temporary employment and business closure was down by 2,000 and 1,000, respectively.

The number of employed people in the month totaled 11.137 million.

The jobless rate was 12.79 percent in the 15-24 age group, 4.02 percent in the 25-44 age bracket, and 2.04 percent in the 45-64 age group. Average Monthly Pay Hits 13-year High in First 10 Months Regular monthly earnings in Taiwan for the year through October saw the biggest annual increase in 13 years, according to government figures released Monday.

Average regular earnings were NT$38,149 (US$1,208) per month over the first 10 months of this year, a 1.76 percent rise from the same period in 2013, according to the Directorate-General of Budget, Accounting and Statistics (DGBAS).

For the month of October, regular pay was NT$38,480 on average, a 2.3 percent increase from the same month last year, the government statistics office showed.

��Affected by the (global) economic recovery, the wage raise situation has improved slightly,�� said Lo Yi-ling, a DGBAS official responsible for census data.

The data showed that calculating for inflation in consumer prices (1.30 percent), regular wages over the same period were NT$36,675, up 0.46 percent annually.

Meanwhile, Lo said that irregular pay increased as well, as more companies offered annual bonuses and performance awards in the beginning of the year.

When regular and irregular pay are added together, average monthly earnings for the first 10 months of the year stood at NT$47,883, up 4.02 percent from the same period in 2013.