Taiwan’s unemployment rate falls to 3.96% in September
Data from the Directorate General of Budget, Accounting and Statistics (DGBAS) showed that the overall unemployment rate for September fell 0.28 percentage point month-on-month to 3.96%, the lowest since April, when it was 3.64%.
After seasonal adjustments, September’s unemployment rate was 3.92%, down 0.16 percentage point from a month earlier. The jobless rate in the first nine months this year averaged 4.04%, up 0.16 percentage point year-on-year, according to DGBAS. The number of jobless individuals in September fell by 34,000 or 6.71% to 471,000.
Meanwhile, the number of people employed in September rose by 18,000 or 0.16%, from a month earlier to about 11.42 million, and the labour participation rate was 58.93%, down 0.05 percentage point from August.
Chen Hui-hsin, deputy director of the DGBAS census department, said Taiwan’s job market had been hit in May and June by a serious COVID-19 outbreak, but the situation has been improving, giving a boost to business activity, and lifting employment. The ability of first-time jobseekers to find jobs also improved the employment figures.
Meanwhile, in September, the number of individuals who lost jobs due to businesses downsizing or closing fell by 17,000 month-on-month, and the number of first-time jobseekers also dropped by 8,000, the DGBAS said.
Chen said the employment environment in Taiwan is expected to continue to improve in the fourth quarter as the local economy recovers, but added that developments in the COVID-19 situation at home and abroad are still sources of economic uncertainty, according to Focus Taiwan.