Unemployment falls to six-year low (update)
Central News Agency
2014-06-23 12:58 PM
Taipei, June 23 (CNA) Taiwan's unemployment rate fell to its lowest level in 72 months in May at 3.85 percent thanks to job increases amid a recovery in the economy, the government's statistics office said Monday. The figure represents a decrease of 0.06 percentage points from April and a drop of 0.21 points from the same month last year, according to the Directorate General of Budget, Accounting and Statistics (DGBAS). After seasonal adjustments, the unemployment rate for May stood at 3.99 percent, 0.05 points lower than April. For the first five months of this year, unemployment averaged 3.98 percent, down 0.16 percentage points from the same period last year. The DGBAS attributed the drop to an improvement in the economy, leading employers to provide more job openings than in last year. In May, the jobless population decreased by 6,000 from the previous month to 443,000, with unemployed first-time jobseekers down by 5,000. While the number of people who lost their jobs due to business closures or downsizing fell by 3,000, those who quit because they were unhappy with their jobs increased by 2,000. On average, jobseekers spent 26.2 weeks before finding a job in May, 0.1 weeks shorter than in April. The search period was 32.7 weeks among first-time jobseekers, 1.9 weeks shorter than in April. Meanwhile, the jobless rate among people with a university degree or higher dropped to 4.7 percent, the lowest level since July 2008, a sign that the market for educated workers has improved significantly, the DGBAS said. (By Milly Lin and Y.F. Low)
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