December 9, 2004
Taiwan's unemployment rate dropped to 4.31% in October, according to statistics released by the Directorate General of Budgeting, Accounting and Statistics. This is the lowest unemployment rate since June of 2001, marking a nearly 40-month low.
Taiwan's steady economic recovery is generally accepted as the chief reason for lowering unemployment rates. Since August, when unemployment stood at 4.67%, this rate has continued to fall, hitting 4.50% in September. The average rate for the first ten months of the year is 4.5%.
From January to October, the number of unemployed has receded from 481,000 to 443,000. This averages out to 460,000 unemployed for this period, a significant reduction compared to the average of 490,000 without work in the same period in 2003.
While Taiwan's unemployment rate for October is lower than Hongkong's 6.7% and Japan's 4.6%, it is still higher than South Korea's 3.5% and Singapore's 3.4%.
(United Daily News)
E-mail this page.
Invest in Taiwan
