February 13, 2007
Taiwan's employment market is looking up, as the labor participation rate has increased and unemployment continues to drop, according to a recent report by the cabinet-level Council for Economic Planning and Development (CEPD).
The domestic labor force participation rate increased from 57.34% in 2002 to 57.9% as of Nov. 2006, a seven-year record high, while the unemployment rate dropped from 5.17% in 2002 to 3.91% in 2006 (Jan. to Nov.).
These figures were announced in the CEPD's 2006 Report on the Effectiveness of Employment Policy Implementation Measures, which was released by the Council's human resources department.
The report attributed the unemployment rate decrease to a number of government-implemented policy measures, including the "2nd Phase Plan to Improve Occupational Abilities", the "Plan to Improve the Quality of the Labor Force", and the "Program to Promote Employment for Indigenous Peoples".
The average number of weeks for unemployment dropped from 30.2 to 24.3 during the 2002-2006 period. The number of "involuntarily unemployed" -- which is defined by the CEPD as unemployment due to closing of workplace, downsizing of operations or the conclusion of temporary or seasonal work -- dropped from 57% of all unemployed to 39%.
These figures indicate that the desire for employment in Taiwan is rising, said the CEPD.
The CEPD report also noted that the service industry in 2005 comprised 73.3% of gross domestic product -- the same level of advanced nations. However, only 58.3% of service industry jobs accounted for
GDP, which indicates opportunities for employment growth in the service industry, the report said.
(Central News Agency)
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