Youth Employment Rate Edges Up

taiwan ministry of labor
Photo by Wei-Te Wong via Creative Commons https://www.flickr.com/photos/wongwt/

Taiwan’s Ministry of Labor today released statistics on youth employment, covering workers aged 15 to 24, indicating that 814,000 were part of the labor force last year.

About 117,000 of those workers used vacation and spare time to work in 2016, earning an average monthly income of 15- to 24-year-old workers was NT$11,506 (US$382). Those engaged in more regular work earned an average of NT$27,753 (US$922) per month, an increase of NT$1,113 from the previous year.

The labor force participation rate for the age group was 31.37% (32.64% for males and 30.07% for females), up 1.13 percentage points from the previous year.

The largest proportion of workers were employed in manufacturing, with 21.39% in the industry. It was followed by wholesale and retail and hospitality industries.

Workers with at least a university degree accounted for 47.99% of workers in the category, which has increased 24.28 percentage points over the past 10 years.

The youth unemployment rate was 12.12%, with the long-term unemployment rate at 8.79%. The overall unemployment rate was slightly higher than in 2015, but the long-term unemployment rate was slightly lower.

In comparison the youth labor participation rate in the US was 55.2%; the rates in Japan and Singapore were 44.8% and 39.4%, respectively.

Source: Ministry of Labor

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