TAIPEI (Taiwan News) — The Directorate General of Budget, Accounting, and Statistics (DGBAS) announced Monday (Sept. 23) the unemployment rate in August rose to 3.48%, an increase of 0.03 percentage points from July.

According to a Monday press release, the number of unemployed reached 419,000, an increase of 4,000 from July. This increase includes 3,000 first-time job seekers, influenced by recent graduates and summer job workers entering the job market.

DGBAS Census Department Deputy Director Tan Wen-ling (譚文玲) said although the figure slightly increased, it remains within a reasonable range, indicating that the overall labor market is stable, per CNA.

The report shows that the number of people working fewer than 35 hours per week due to economic factors increased to 197,000, a rise of 22,000 from the previous month. Among the reasons for unemployment, those due to business contraction or closures increased to 100,000, up by 2,000, the highest level in four months.

Tan said the figures for low weekly working hours and unemployment due to business closures are not ideal. However, compared to the levels in previous years, the changes are insignificant.

As graduates find jobs in September, the unemployment rate should fall, Tan added, per UDN.