Unemployment drops to 3.36 percent: DGBAS

The nation’s unemployment rate fell to 3.36 percent last month, the lowest recorded for the month in 26 years, data released by the Directorate-General of Budget, Accounting and Statistics (DGBAS) showed yesterday.

The rate fell 0.05 percentage points from August as more fresh graduates found jobs, the first decline after rising for three consecutive months since June, the DGBAS said.

The DGBAS attributed the decline to fewer first-time job seekers, as well as a drop in the number of people who left their jobs, down by 3,000 and 2,000 respectively.

People cross a street in Taipei in an undated photograph.

Photo: CNA

After seasonal adjustments, the unemployment rate rose 0.01 percentage points from August to 3.33 percent, the data showed.

The number of unemployed people last month fell by 6,000 from August to 405,000, down 2,000 from the same month last year, the agency said.

By age group, people aged 15 to 24 had the highest unemployment rate at 11.59 percent, as most were first-time job seekers adjusting to the workplace, the DGBAS said.

The rate was 5.69 percent among those aged 25 to 29 and 3.40 percent among those aged 30 to 34, while it was below 3 percent among those aged 35 to 64.

From January to last month, the average number of unemployed people was 402,000, down 1,000 from the same period a year earlier, the data showed.

Meanwhile, employment declined to 12.045 million in last year, down 21,000 from August but up 8,000 from a year earlier. The average employment in the first nine months was 12.044 million, up 20,000 from the same period last year, the DGBAS said.

The labor force participation rate was 59.59 percent last month, down 0.1 percentage point from August, but still higher than a year earlier. The average rate for the first nine months was also 59.59 percent, up 0.20 percentage points from the same period last year.