TAIPEI (Taiwan News) – The jobless rate declined to 3.30% in January, the lowest level for the first month of the year in 25 years, the government said Wednesday.

The Directorate General of Budget, Accounting and Statistics predicted a rise for February because the Lunar New Year holidays often see employees looking for different work. The number of short-term job offers also declined during the period, per UDN.

The rate for January registered a decline of 0.02% from December, while the seasonally adjusted unemployment rate dropped 0.01% over the same period to 3.37%.

The number of unemployed declined by 3,000 from December to 396,000 in January, according to government data. Looking at educational background, college graduates recorded the highest jobless rate in January, 4.45%.

The age group of 20 to 24 reported 11.14% unemployment, as most of them were first-time job seekers still adapting to the market. The jobless rate fell to 5.58% for those aged between 25 and 29, and to 3.36% for the 30-to-34 age group.