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September, 29, 2016

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Jobless rate rises to 4.08% as new graduates enter market

TAIPEI, Taiwan -- Taiwan's unemployment rate stood at 4.08 percent in August, up 0.06 percentage points from the previous month and 0.18 percentage points from a year earlier, government statistics showed Thursday.

The numbers of both employed and unemployed people rose as a new wave of graduates entered the job market, according to the Directorate-General of Budget, Accounting and Statistics (DGBAS, 主計處), which said the jobless rate would likely fall in September.

The number of unemployed people increased in August by 8,000 to 480,000, of whom 5,000 were first-time job seekers, while the number of employed people grew by 15,000, to 11.29 million.

After seasonal adjustments, the unemployment rate for August was 3.95 percent, down 0.01 percentage points from July, according to the DGBAS.

The jobless rate between January and August averaged 3.93 percent, up 0.2 percentage points from the same period last year, marking the first increase for that period in seven years.

Taiwan's unemployment rate remained the highest among its neighbors, exceeding South Korea's 3.6 percent, Hong Kong's 3.4 percent, Japan's 3 percent and Singapore's 2.1 percent.

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This undated file photo shows staff working at a convenience store in Taipei. The unemployment rate stood at 4.08 percent in August, the Directorate-General of Budget, Accounting and Statistics reported. (John Liu, The China Post)

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