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Unemployment falls to 14-year low in January (update)

Unemployment falls to 14-year low in January (update)

Taipei, Feb. 26 (CNA) Unemployment fell 0.31 percentage points annually to 3.71 percent in January, the lowest level for the month in 14 years, according to government figures released Thursday. The January figure fell 0.08 points from December, the Directorate General of Budget, Accounting and Statistics (DGBAS, ????) said. After seasonal adjustments, the unemployment rate fell 0.04 percentage points month-on-month to 3.78 percent, the data shows. The DGBAS said that continued improvement in the local job market reflected an economic recovery at home and abroad. The January fall followed December's figure, which dropped to 3.79 percent from 3.89 percent recorded the previous month. The January number was the lowest since January 2001, when the jobless rate stood at 3.35 percent. Last month, the number of unemployed in Taiwan fell 9,000 from a month earlier to 430,000, the DGBAS said. The number of first-time job-seekers fell 5,000, the number of those who quit dropped 3,000, and the number of those who lost their jobs due to business downsizing or closures fell 2,000, the agency said. However, the number of those who lost their jobs due to termination of temporary contracts rose 1,000, the DGBAS said. Riding the wave of better economic fundamentals, the number of the employed for January rose 8,000, or 0.07 percent, from December to about 11.16 million, while the labor participation rate fell 0.04 percentage points month-on-month to 58.60 percent. In terms of business sectors, the DGBAS said the number of those employed in the industrial, services and agricultural sectors rose 4,000, 3,000 and 1,000, respectively. The jobless rate for the 15-24 age bracket for January fell 0.22 percent from a month earlier to 11.95 percent, while the unemployment rate for people holding university degrees or higher also fell 0.10 percentage points to 4.80 percent. The DGBAS said the data shows that the job market for the younger generation and people with higher education showed signs of improvement. (By Chen Cheng-wei, Jay Chen and Frances Huang)


Updated : 2021-09-17 20:38 GMT+08:00