The nation's unemployment rate fell to 3.90 percent last month from 3.96 percent in September, and was down from 4.07 percent for the same period a year earlier, the government said yesterday.
Viewed on a seasonally adjusted basis, Taiwan's unemployment rate for last month was 3.84 percent, holding steady from the level of the previous month but falling from the 4.00 percent level posted a year earlier, statistics from the Directorate General of Budget, Accounting and Statistics (DGBAS) showed.
For the period from January to October, the nation's jobless rate was 3.92 percent, down from 4.17 percent a year-earlier, said Huang Jiann-jong (黃建中), deputy director of DGBAS Bureau of Census.
"The full-year jobless rate should stay below 4 percent as we forecast," Huang said.
The nation's unemployment rate averaged 4.13 percent last year.
DGBAS said 413,000 people were jobless last month, a fall of 6,000 from the month before.
Major decreases included 13,000 in the number of first-time job seekers who failed to find jobs and a drop of 2,000 in the number of people who became unemployed owing to the termination of seasonal or temporary work.
In contrast, there was an increase of 5,000 in the number of people who became jobless due to dissatisfaction with their previous jobs, the DGBAS said.
An improved job market may support consumer spending after a surge in bad consumer debt prompted banks to issue fewer credit cards, hurting demand.
The nation's GDP likely rose 4 percent from a year earlier last quarter after growing 4.57 percent over the previous three months, economists said.