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September unemployment at lowest monthly level since 2000

September unemployment at lowest monthly level since 2000

Taipei, Oct. 22 (CNA) Taiwan's unemployment in September fell slightly to 3.89 percent, the lowest level for that month in 15 years, according to government statistics released Thursday. The average jobless rate for the first nine months of this year -- 3.74 percent -- is also the lowest since 2000, when the average unemployment rate of the same period stood at 2.91 percent, the statistics show. In September, the local jobless rate fell 0.01 percentage points from a month earlier as the number of first-time jobseekers declined in the month due to reduced impact compared with the influx of new jobseekers during the graduation season in the June-August period, the Directorate General of Budget, Accounting and Statistics (DGBAS) said. However, the month-on-month drop in the September jobless rate was the smallest for the same month in seven years, the DGBAS said. Between 2008 and 2014, the month-on-month decline in unemployment for September ranged between 0.09 percentage points and 0.17 percentage points. The DGBAS said that the narrower decline reflects a slowing local economy, which has affected the local job market. In August, the DGBAS cut its forecast for Taiwan's 2015 gross domestic product (GDP) growth to 1.56 percent from an earlier estimate of a 3.28 percent increase due to weakening global demand. Market analysts said that it is possible the DGBAS will trim its forecast again, since it is not easy for Taiwan to maintain a 1 percent increase in its GDP growth under the current unfavorable external environment. After seasonal adjustments, the local jobless rate stood at 3.79 percent in September, up 0.05 percentage points from a month earlier, the DGBAS data shows. In September, the number of unemployed in Taiwan fell 2,000 from August to 454,000. The number of first-time jobseekers last month fell 5,000 from a month earlier, while the number of those who lost their jobs due to business downsizing and closures rose 2,000, and the number of those who became unemployed due to temporary job contract terminations also reached 2,000. The DGBAS said that the increase in the number of unemployed due to business downsizing and closures also reflects an economic slowdown. Chang Yun-yun (???), deputy chief of the census division of the DGBAS, said that the DGBAS needs time to observe the local economic climate to get a better understanding of how the economy will affect the local job market over the next few months. In September, the jobless rate for people holding university degrees or higher stood at 5.04 percent, the figure for people holding college degrees hit 4.31 percent, the number for people holding senior high school degrees reached 3.87 percent, and the unemployment level for those with junior high school education or lower stood at 2.77 percent. In the month, the jobless rate for the 15-24 age bracket reached 12.69 percent, the highest level among all the age groups, the DGBAS said. The DGBAS said the number of those who were employed in September fell 17,000, or 0.15 percent, from a month earlier to 11.21 million, and the labor participation rate dropped 0.13 percentage points month-on-month to 58.72 percent. (By Yang Shu-min and Frances Huang)


Updated : 2021-09-20 19:22 GMT+08:00