Taipei-The jobless rate in July rose slightly from a month earlier on the back of an increase in first time job seekers during the graduation season, according to statistics released by the government on Tuesday.
The July unemployment rate rose 0.1 percentage points to 3.84 percent from the previous month, while the August figure was down 0.18 percentage points from a year earlier as the local economy has gradually recovered, the Directorate General of Budget, Accounting and Statistics (DGBAS) said.
The DGBAS said that after seasonal adjustments, the July jobless rate was unchanged at 3.78 percent.
In July, the number of unemployed totaled 454,000, up 14,000 from a month earlier, the DGBAS said.
According to the DGBAS, the July jobless rate was the highest since February, when unemployment stood at 3.85 percent.
Despite the increase in the jobless rate in July, Pan Ning-hsin (???), deputy director of the DGBAS' census department, said the local job market remained stable as the rise in the number of unemployed was caused by seasonal factors during the graduation season.
Judging from previous job market numbers, Pan said, the unemployment rate from June to August could rise 0.23-0.28 percentage points, but is expected to fall in September as many new graduates find work.
In July, the number of first time job seekers rose 11,000 from a month earlier and the number of those who lost their jobs due to termination of seasonal and temporary employment contracts also grew by 2,000, the DGBAS said.
However, the DGBAS said the number of those made unemployed and looking for work due to business downsizing and closures fell 1,000 in July from a month earlier, while the number of those who quit their jobs to search for new employment also dropped 1,000.
In terms of age group, the unemployment rate for those 15-24 was 12.41 percent, the highest among all of age groups, up from 11.91 percent in June, while the jobless rate for people 25-29 hit 6.63 percent, up from June's 6.54 percent, the DGBAS said.
The jobless rate for people holding a college or higher degree was 4.18 percent, the highest among all education groups, up from 4.02 percent in June, the DGBAS added.
The DGBAS said that the country's labor participation rate for July reached 58.91 percent, up 0.16 percentage points from a month earlier and also up 0.07 percentage points from a year earlier.
The number of those gainfully employed in July totaled 11.36 million, up 23,000, or 0.20 percent, from a month earlier, the DGBAS said.
In the first seven months of the year, the local jobless rate averaged 3.76 percent, down 0.15 percentage points from a year earlier, while the labor participation rate averaged 58.76 percent, up 0.08 percentage points from a year earlier, DGBAS data showed.
Source: Focus Taiwan News Channel