March un­em­ploy­ment stands at 3.72%

The China Post - - TAIWAN BUSINESS -

Tai­wan’s job­less rate hit 3.72 per­cent in March, up by 0.03 per­cent­age points from Fe­bru­ary but down by 0.31 per­cent­age points from a year ear­lier, gov­ern­ment statis­tics showed Wed­nes­day.

The month-on-month in­crease in Tai­wan’s un­em­ploy­ment rate partly re­flected the ex­pi­ra­tion of some tem­po­rary con­tracts af­ter the Lu­nar New Year hol­i­day, the Di­rec­torate Gen­eral of Bud­get, Ac­count­ing and Statis­tics (DGBAS) said.

The DGBAS said many em­ploy­ees tend to quit their jobs fol­low­ing the Lu­nar New Year hol­i­day to look for new em­ploy­ers, which also boosted the in­crease in the job­less rate in March.

De­spite the month-on-month in­crease, the March job­less rate was the low­est level com­pared with the same month in the past 15 years. The un­em­ploy­ment rate seen in March 2000 stood at 2.83 per­cent.

Af­ter sea­sonal ad­just­ments, the March job­less rate was 0.01 per­cent­age points higher than Fe­bru­ary to 3.75 per­cent, the gov­ern­ment agency said.

In March, the num­ber of those who had lost their jobs in Tai­wan to­taled 431,000, up 3,000 from a month ear­lier, the data showed.

In the month, the num­ber of those who be­came un­em­ployed due to tem­po­rary con­tract ex­pi­ra­tion rose 2,000 from a month ear­lier, and the num­ber of those who were un­happy about their pre­vi­ous jobs and quit to find new ones grew 3,000 month-on-month, the statis­tics in­di­cated. The num­ber of work­ers switch­ing jobs tends to rise to a peak af­ter the Lu­nar New Year hol­i­day.

How­ever, the num­ber of first­time job­seek­ers for March fell 3,000 from Fe­bru­ary, help­ing sta­bi­liz­ing the en­tire job­less rate for the month, ac­cord­ing to the data.

Last month, the num­ber of em­ployed peo­ple in Tai­wan rose 2,000 or 0.02 per­cent from a month ear­lier to 11.16 mil­lion, while the la­bor par­tic­i­pa­tion rate in the month fell by 0.01 per­cent­age points from Fe­bru­ary to 58.55 per­cent.

Lo Yi-ling, deputy direc­tor of the DGBAS Depart­ment of Cen­sus, said that the higher num­ber of em­ployed peo­ple here re­flected a re­cov­ery of the lo­cal econ­omy which boosted de­mand for work­force.

In March, the job­less rate for the 20-24 age bracket fell 0.13 of a per­cent­age point from Fe­bru­ary to 12.19 per­cent, while the un­em­ploy­ment rate for the 25-29 age group rose 0.23 per­cent­age points to 6.55 per­cent.

Last month, the job­less rate for peo­ple hold­ing a uni­ver­sity de­gree or higher dropped by 0.04 per­cent­age points month-on-month to 4.71 per­cent.

Lo said that job switch­ing waves are ex­pected to keep af­fect­ing the lo­cal mar­ket over the next few months to push up the lo­cal job­less rate slightly.

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