Taiwan’s September unemployment rate falls to 3.36%, lowest for month in 26 years
The number of unemployed fell by 6,000 from August, while employment declined by 21,000; unemployment among people aged 15 to 24 reached 11.59%, well above the overall rate.
Taiwan’s unemployment rate fell to 3.36% in September, the lowest level recorded for the month in nearly 26 years. Data released by the Directorate-General of Budget, Accounting and Statistics on Oct. 23 showed that the rate was down 0.05 percentage points from August, marking its first decline after rising for three consecutive months. The drop was mainly attributed to fewer first-time job seekers and a decrease in the number of people who had lost their jobs due to other reasons.
According to Focus Taiwan, the English service of the Central News Agency, the number of unemployed people fell by 6,000 from August to 405,000 in September, down 2,000 from the same month last year. The seasonally adjusted unemployment rate, however, rose 0.01 percentage points from August to 3.33%, showing slightly different trends under the two statistical measures.
The Directorate-General of Budget, Accounting and Statistics said the number of unemployed first-time job seekers fell by about 3,000 in September. The number of people who lost their jobs because of business contraction or the closure of their workplaces also declined. By age group, the unemployment rate was highest among those aged 15 to 24, at 11.59%, followed by 5.69% for those aged 25 to 29 and 3.40% for those aged 30 to 34. The rate for people aged 35 to 64 was below 3%.
Employment stood at about 12.045 million in September, down 21,000 from August but up 8,000 from a year earlier. Average employment during the first nine months of the year was about 12.044 million, an increase of approximately 20,000 from the same period last year. The average labor force participation rate over the same period was 59.59%, up 0.20 percentage points year on year.
The overall decline in unemployment indicates that some job seekers successfully entered the workforce. However, the youth unemployment rate remained considerably higher than the overall figure, suggesting that people entering the workforce may face challenges including limited experience, mismatches between available jobs and skills, and transitional periods while seeking employment. Changes in the unemployment rate in a single month also cannot fully reflect salary growth, job stability or workplace quality.
Areas to watch include recruitment demand in the technology and export sectors, conditions in the services sector, youth employment and changes in the labor force participation rate. Taiwan’s unemployment rate remains relatively low, but employment conditions continue to vary across age groups and industries. Policymakers and businesses will need to keep focusing on aligning talent development with demand for available jobs.