The number of workers on furlough programs in Taiwan dropped by 983 over the past week as more businesses brought back staff from unpaid leave, the Ministry of Labor said yesterday.
The number of workers on furlough programs dropped from 18,163 on Thursday last week to 17,180 yesterday, while the number of companies implementing unpaid leave programs fell by 173 to 2,525, ministry data showed.
Department of Labor Standards and Equal Employment Director Huang Wei-chen (黃維琛) said that some companies in sectors driven by local demand have begun bringing back staff from unpaid leave.
Photo: CNA
Citing the support services industry as an example, Huang said that a large travel agency had its last 52 furloughed employees return to work, while the number of furloughed people in the accommodation and catering sector also fell.
In the transportation industry, two airlines that mainly provide flight services to Southeast Asia ended furlough programs following a rebound in passenger volumes, he said.
Although the number of airline ground staff on unpaid leave did not decrease over the past week, Huang said he expects the situation to improve early next year.
Fewer companies in the manufacturing sector implemented unpaid leave programs over the past week, although the number of workers on furlough increased slightly, the ministry said.
The increase was particularly evident in the machine tool industry, Huang said, without elaborating.
According to the latest figures, the number of furloughed workers in the manufacturing industry was 5,422, while the number of companies with unpaid leave programs was 273.
The figures represent a slight deterioration from Thursday last week, when 5,386 people in the manufacturing sector were on unpaid leave and the number of companies implementing such programs was 276.
The weekly furlough data came after government data last week showed that Taiwan’s factory activity shrank for a fifth straight month last month due to inventory corrections and sluggish demand.
The manufacturing purchasing managers’ index last month shed 1.5 points to 43.9, well below the 50-point mark separating growth from contraction and the lowest since the launch of the survey in July 2012, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said.
The weak manufacturing activity gauge could persist until the impact of global monetary tightening fades, likely by the end of next year, CIER economists said.
Additional reporting by Crystal Hsu
STRONG INTEREST: Analysts have pointed to optimism in TSMC’s growth prospects in the artificial intelligence era as the cause of the rising number of shareholders The number of people holding shares of chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) hit a new high last week despite a decline in its stock price, the Taiwan Depository and Clearing Corp (TDCC, 台灣集保) said. The number of TSMC shareholders rose to 2.46 million as of Friday, up 75,536 from a week earlier, TDCC data showed. The stock price fell 1.34 percent during the same week to close at NT$1,840 (US$57.55). The decline in TSMC’s share price resulted from volatility in global tech stocks, driven by rising international crude oil prices as the war against Iran continues. Dealers said
Taiwan’s natural gas supply remains stable through the end of May, despite rising concerns about potential disruptions to Qatari liquefied natural gas (LNG) supplies due to escalating conflicts in the Middle East, the Ministry of Economic Affairs said yesterday. The ministry in a statement said that Taiwan has completed preparations for natural gas supply and shipping schedules through the end of May. It has also made plans to increase natural gas imports from regions outside the Middle East in June to ensure a stable supply, it added. Taiwan sources natural gas from 14 countries and is not solely dependent on the Middle East,
China is clamping down on fertilizer exports to protect its domestic market, industry sources said, putting an additional strain on global markets that were already grappling with shortages caused by the US-Israeli war on Iran. China is among the largest fertilizer exporters — shipping more than US$13 billion of it last year — and it has a history of controlling exports to keep prices low for farmers. Shipments through the war-blocked Strait of Hormuz account for about one-third of the sea-borne supply. This month, Beijing banned exports of nitrogen-potassium fertilizer blends and certain phosphate varieties, sources said. The ban, which has not
Grab Holdings Ltd agreed to buy Delivery Hero SE’s Foodpanda operations in Taiwan for US$600 million, a deal that marks its first foray outside of its Southeast Asian base. The cash acquisition will allow Grab to expand into 21 cities across Taiwan, the Singapore-based ride-hailing and delivery company said in a statement yesterday. Grab expects the transaction to be completed in the second half, subject to regulatory approvals. The purchase will give Grab a presence on the island of about 23 million people, helping it to expand beyond its intensely competitive home market. Grab has seen growth slow dramatically as it takes