Taiwan’s jobless rate for November inched down 0.01 percentage point to 4.27 percent year on year as a result of the gradually stabilizing local economy, according to the Directorate-General of Budget, Accounting and Statistics Dec. 22.
“The figure is the lowest since July and reflects higher employment among this year’s graduates,” said Chen Min, deputy director of DGBAS Fourth Department. “We expect the improving trend to continue into December.”
Directorate statistics revealed that 487,000 individuals were out of work last month, 5,000 more than a year ago. But this was offset by a record high 10.91 million-strong workforce, up 1.2 percent over the same period, the official said.
In comparison with neighboring economies, Taiwan’s unemployment rate topped Japan, 4.2 percent; Hong Kong, 3.4 percent; South Korea, 3 percent; and Singapore, 1.9 percent.
A breakdown of the nation’s workforce numbers showed that those with tertiary level education continued to suffer the highest rate of joblessness at 4.65 percent. Individuals with senior high school education came in second with 4.11 percent.
For the first 11 months of the year, Taiwan’s unemployment rate averaged 4.24 percent, or 0.16 of a percentage point lower than a year ago.
Chen said sluggish economic conditions are also impacting the country’s salary numbers, with employers cutting back on bonuses.
Taiwan’s monthly average salary was NT$46,292 (US$1,591) for the first 10 months, down 0.09 percent year on year. Taking inflation into account, real salaries decreased 2.04 percent. (JSM)
Write to Meg Chang at sfchang@mofa.gov.tw