Jobless rate up to 3.81 percent in July

Taipei, With the number of first-time jobseekers on the rise during the current graduation season, Taiwan's jobless rate for July climbed slightly from a month earlier, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Wednesday.

Data compiled by the DGBAS shows that Taiwan's unemployment rate for the month stood at 3.81 percent, up 0.11 percentage points from a month earlier.

After seasonal adjustments, the jobless rate for July also rose 0.01 percentage points from June to 3.69 percent, the data indicates.

The DGBAS said the figure after seasonal adjustments shows that the local job market remained stable.

The number of people who left the job market rose 14,000, or 3.15 percent, from a month earlier to 453,000, while the number of the employed grew 25,000, or 0.22 percent month-on-month, to 11.44 million, the DGBAS said.

The labor participation rate rose 0.17 percentage points from June to 59.09 percent in July, the DGBAS added.

In July, the number of first-time jobseekers rose 11,000 from a month earlier as many new graduates entered the job market, while the number of those who quit to find another job and those who lost their jobs due to termination of seasonal and temporary contracts also added 2,000, the DGBAS said.

However, the number of those who lost their jobs due to business downsizing and closures rose 1,000 from a month earlier in July, the DGBAS added.

Pan Ning-hsin (???), deputy director of the DGBAS census department, told the press that the higher jobless rate during the current graduation season was normal.

Pan said the local jobless rate is expected to continue to move higher in August on the back of rising first-time jobseekers, but could start to fall from September as the graduation season effect fades.

In terms of age groups, the unemployment rate among people aged 15-19 was 8.66 percent in July, up from 8.57 percent in June, while in the 20-24 age group, it hit 12.42 percent, up from 11.89 percent a month earlier, the DGBAS said.

The jobless rate in the 25-29 age group hit 6.39 percent in July, up from 6.35 percent in June, the DGBAS data shows.

Among people holding a university degree, the jobless rate in July was 5.27 percent, the highest among all education groups, while the unemployment rate among people holding a senior high school diploma and those holding a graduate school degree stood at 3.65 percent and 3.05 percent, respectively, the DGBAS said.

In the first seven months of this year, the local jobless rate stood at 3.68 percent, down 0.08 percentage points from a year earlier, while the labor participation rate rose 0.15 percentage points to 58.91 percent, the DGBAS data shows.

Source: Focus Taiwan News Channel