Taipei:Taiwan's unemployment rate dropped to 3.36 percent in September, marking the lowest level for the month in 26 years, as reported by the Directorate General of Budget, Accounting and Statistics (DGBAS) on Friday.
According to Focus Taiwan, the unemployment rate fell by 0.05 percentage points from August, largely due to an increase in employment among fresh graduates. This marks the first decline in the unemployment rate following three consecutive months of increases since June.
The DGBAS attributed the decrease to a reduction in the number of first-time job seekers and a drop in the number of people leaving their jobs, which fell by 3,000 and 2,000 respectively. However, seasonally adjusted figures showed a slight increase of 0.01 percentage points from August, with the adjusted rate at 3.33 percent.
In September, the number of unemployed individuals decreased by 6,000 from August, bringing the total to 405,000, which is 2,000 fewer than the same month last year. The highest unemployment rate was observed in the age group of 15-24 years at 11.59 percent, primarily due to first-time job seekers entering the workforce.
For individuals aged 25-29, the unemployment rate was 5.69 percent, and it was 3.40 percent for those aged 30-34. The rate remained below 3 percent for those aged 35-64. From January to September, the average number of unemployed people was 402,000, a decrease of 1,000 compared to the same period the previous year.
Employment figures showed a decline to 12.045 million in September, down by 21,000 from August, but an increase of 8,000 from a year earlier. The average employment for the first nine months stood at 12.044 million, an increase of 20,000 from the same period last year.
The labor force participation rate in September was 59.59 percent, a decrease of 0.1 percentage point from August but still higher than a year ago. The average participation rate for the first nine months was also 59.59 percent, up 0.20 percentage points from the same period last year.
