Un­em­ploy­ment rate im­proves to 15-year low in June: DGBAS

The China Post - - TAIWAN BUSINESS - BY ENRU LIN

The un­em­ploy­ment rate in July dropped 0.2 per­cent­age points from last year to 3.82 per­cent, the low­est for the month in 15 years, the Di­rec­torate Gen­eral of Bud­get, Ac­count­ing and Sta­tis­tics (DGBAS, ) re­ported yesterday.

July un­em­ploy­ment was down by 0.2 per­cent­age points yearon-year, though it rose by 0.11 per­cent­age points from June, said Chang Yun-yun ( ), DGBAS deputy chief of the cen­sus di­vi­sion of the DGBAS.

The rate was worst among 20- to 24-year-old job seek­ers at 12.91 per­cent, up 0.64 per­cent from the pre­ced­ing month. Among 25- to 29-year-olds, the un­em­ploy­ment rate was 6.65 per­cent, an in­crease of 0.07 per­cent­age points, Chang said.

Not Due to Eco­nomic

Slow­down: Chang

The DGBAS said that the month-on-month rise in un­em­ploy­ment had been driven by the en­try of fresh grad­u­ates to the la­bor force and not by Tai­wan’s eco­nomic slow­down.

The un­em­ploy­ment rate is a lag­ging in­di­ca­tor that has not yet seen mea­sur­able ef­fects from the de­cline in ex­port per­for­mance and slow­down of gross do­mes­tic prod­uct ( GDP) growth, Chang said.

She said it typ­i­cally takes three to six months be­fore the un­em­ploy­ment rate re­flects the state of the do­mes­tic econ­omy.

While con­di­tions in the la­bor mar­ket have re­mained largely un­changed from June, new job seek­ers have con­tin­ued to en­ter the mar­ket.

Ac­cord­ing to the DGBAS re­port, there were 445,000 un­em­ployed in July, up 14,000 from the pre­ced­ing month. — among them, 11,000 were first-time job seek­ers.

Only 2,000 and 1,000 peo­ple were un­em­ployed due to lay­offs or the end of their short-term jobs, re­spec­tively. Com­pared to June, 2,000 fewer peo­ple were un­em­ployed be­cause they were dis­sat­is­fied with their for­mer em­ploy­ers, ac­cord­ing to the DGBAS.

Re­cruit­ment Ta­per­ing: Job Bank

The 1111 Job Bank said that based on its anal­y­sis of avail­able po­si­tions in its databank, the an­nual re­cruit­ment boom is ta­per­ing.

Peak sea­son for re­cruit­ment, which usu­ally be­gins in the first half of the year, has been draw­ing to a close, 1111 Job Bank vice pres­i­dent Daniel Lee ( ) said yesterday.

In July, there were 389,000 full­time po­si­tions in the em­ploy­ment bank, down 4 per­cent from June, he said.

Among in­dus­tries rep­re­sented in the job bank, con­sumer ser­vices ( / ) was most ac­tive in re­cruit­ing in July, while re­tail sales ( ) and med­i­cal/farm­ing/ en­vi­ron­men­tal in­dus­tries ( /

/ ) posted the most an­nual growth.

In­dus­tries where hir­ing de­clined year-on-year were con­struc­tion, real es­tate ( ) and in­for­ma­tion tech­nol­ogy ( ), Lee said.

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