TAIPEI (Taiwan News) – The unemployment rate fell to 3.38% in 2024, the lowest annual level in 24 years, the government said Wednesday.

The change amounted to a drop of 0.1% from 2023, according to the Directorate General of Budget, Accounting and Statistics. The government department also published the data for December on its website Wednesday.

The final month of 2024 saw 399,000 people out of work, or 3.32%, a decline of 4,000 from November, per CNA. The average for the whole year was 406,000, a drop of 9,000 from 2023.

Compared to the previous month, employment rose by 6,000 in December to 11,612,000. The level was 29,000 higher than in December 2023, with the increase recorded by the services sector, as both industry and agriculture lost employees.