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Updated Tuesday, May 25, 2010 9:50 am TWN, The China Post news staff

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Jobless rate sees biggest fall in 15 years to 5.39% in April

TAIPEI, Taiwan -- Taiwan's jobless rate posted a decline of 0.28 of a percentage point from March to reach 5.39 percent in April, representing the largest single-month drop of its kind in 15 years, according to statistics released yesterday by the Cabinet-level Directorate General of Budget, Accounting and Statistics (DGBAS).

Liu Tien-shih, a deputy division chief at the DGBAS, said at a press conference held yesterday afternoon that the record monthly shrinkage in the nation's unemployment rate was due mainly to the growing economic recovery fueling demand for additional workforce by local enterprises.

After a seasonal adjustment, Taiwan's unemployment rate stood at 5.43 percent in April, down 0.21 of a percentage point from a month earlier and marking the eighth consecutive month witnessing a decline in the jobless rate.

In April, the unemployed population reached 593,000 people, down 31,000 people from March. The number of people who became jobless because of business closures or downsizing posted a decline of 28,000, for the 10th straight monthly drop of its kind, according to the same DGBAS tallies.

A further breakdown showed that the number of unemployed people aged 45-60 reached 129,000in April, down 10,000 from March and marking the lowest figure of the kind since February 2009.

The number of people who have remained jobless for over one year stood at 114,000 in April, edging down 1,000 from March.

On another front, total number of the employed population came to 10.414 million in April, representing an increase of 30,000 over March, for the highest figure of its kind since November 2008. The manufacturing sector witnessed an increase of 25,000 employees, and the construction segment saw a rise of 11,000 employees.

At the press conference, DGBAS's Liu said if the government's goal to reduce the nation's unemployment rate to under 5 percent by the end of the year, then the number of the jobless should decrease by 37,000 people and the employed population should increase by 176,000.

If the average jobless rate were to decline 4.9 percent, then the number of unemployed should decrease by 96,000 and the employed population must increase by 250,000.

In related news, growing economic turnaround has prompted enterprises to offer more job openings for job seekers. Statistics compiled by the 104 Job Bank showed that the number of job openings offered by local enterprises came to 337,000 in May, representing a whopping increase of 66 percent over a year earlier.

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