Local jobless rate ticks down nearly 0.1 percent in Sept.
By John Liu, The China PostTAIPEI, Taiwan -- The unemployment rate hit 4.24 percent in September, down 0.09 percent from the previous month, according to a report released by the Directorate General of Budget, Accounting and Statistics (DGBAS) yesterday.
October 23, 2013, 12:08 am TWN
The unemployment rate dropped year-on-year from 2012 as well, according to DGBAS Deputy Director Lo Yi-ling (羅怡玲).
The number of unemployed reached 486,000 in September, down 11,000 from August. The number of first-term job seekers in September dropped 7,000 from the previous month. The number of job-seekers who were unsatisfied with their previous jobs dropped by 4,000, and job-seekers who just completed contracts or seasonal work dropped by 2,000.
However, the number seeking jobs due to business closure or downsizing went up 2,000 compared with the previous month. This number, Lo said, is something that deserves attention, because this figure had gone down by 1,000 for the past three consecutive months.
Nevertheless, from a long-term perspective, large-scale business closures or layoffs had been absent, Lo said, adding that generally speaking, the job market was stable in September.
Unemployment by Age Group
September's unemployment rate was 14.57 percent among the 20-24 age group, down 0.2 percent from August. The rate was 7.16 percent for the 25-29 age group, down 0.12 percent from August. The rate was 5.45 percent for those with a tertiary education, down 0.23 percent from August. The numbers showed that employment rates of those with higher-education degrees has improved, the DGBAS said.
The unemployment rate between January and September was pegged at 4.18 percent, a 0.05-percent decline on the same period last year.
August's average earnings, including regular and irregular earnings, were NT$42,522, representing a 1.83-percent drop from July but a 1.63-percent increase in year-on-year terms. August's regular earnings were NT$37,820, a 0.13-percent increase from July and a 1.61-percent increase from a year ago.
Average earnings between January and August were NT$47,208, a 0.08-percent decline. Regular earnings in the period averaged NT$37,652, hitting a new record and a 0.82-percent growth year-on-year. Due to fewer bonus payouts and performance-based payments, irregular earnings were pegged at NT$9,556 in the period, a 3.49-percent drop year-on-year.
After the implementation of a new labor pension system, employers are allocating more funds to the pension pool, affecting employers' ability to afford pay raises, the DGBAS said.
Real earnings for the first eight months of the year reached NT$46,111, a figure which has grown 4.1 percent since the financial crisis. Growth was higher than that of other countries including the U.S., Japan, South Korea and Singapore. However, this was a result of a low inflation rather than an increase in earnings, the DGBAS pointed out.
According to the latest data, the unemployment rate stands at 7.7 percent in Britain, 7.3 percent in the U.S., 6.9 percent in Canada, 5.2 percent in Germany, 4.1 percent in Japan, 3.3 percent in Hong Kong, 3.1 percent in South Korea and 2.1 percent in Singapore.