Taiwan’s unemployment rate fell again in April to 3.67%, according to the Directorate-General of Budget, Accounting and Statistics (DGBAS). The unemployment rate is 0.19 percentage points lower than a year earlier and 0.11 percentage points lower than in March. The number of unemployed decreased by 13,000 from last month and by 19,000 from April 2016.
The rate has fallen 0.41 percentage points from the 12-month peak of 4.08% in August 2016 and is the lowest unemployment rate in 23 months.
However, the labor participation rate in April stood at 58.7%, 0.03 percentage points lower than in March, but an improvement from 58.63% in April last year. The 12-month peak for labor participation was 58.93% in August 2016. Labor participation includes all residents age 15 and older.
The average unemployment rate from January to April was 3.77%, down 0.12 percentage points from the same period last year, and was the lowest since 2002.
Pan Ning-hsin (潘寧馨), deputy director of the DGBAS’s census department, said that the future unemployment rate depends on labor market conditions, the environment, business operations and employment needs.
By comparison the unemployment rates in South Korea, Hong Kong, and Japan were 3.7%, 3.2%, and 2.8% respectively in March.