Taiwan’s Jobless rate for September dips to 18-year low

Taipei, Oct. 22 (CNA)-Taiwan’s jobless rate in September fell to its lowest level for the month since 2000 due to a continued economic recovery and a stable local job market, according to the Directorate General of Budget, Accounting and Statistics (DGBAS) on Monday.

In September, the local unemployment rate fell 0.11 percentage points from a month earlier and 0.01 percentage points from a year earlier to 3.76 percent, the lowest level since September 2000, when it was 3.10 percent, DGBAS data showed.

The seasonally adjusted jobless rate for September was 3.70 percent, up from 3.69 percent a month earlier and unchanged from last year, according to DGBAS data.

There were 447,000 people unemployed in September, up 2,000 from the same month in 2017 but down 14,000 from August, the figures showed.

DGBAS official Pan Ning-hsin (潘寧馨) said that due to the graduation season each year between June to August, fresh graduates become job hunters, which in turn increases the unemployment rate.

The impact of these new graduates on the labor market will gradually fade starting in September, Pan said.

Pan felt the slight month-to-month uptick in the seasonally adjusted jobless rate was not a concern and should be seen as a reasonable fluctuation.

Asked about a recent increase of workers on furlough, Pan said that based on recent economic indicators Taiwan’s economy is still growing and labor market indicators do not show any negative trends for employment.