Taiwan’s labor market ended last year on a firm footing, with unemployment falling to its lowest level in more than two decades, underscoring steady employment conditions supported by a resilient domestic economy.
The unemployment rate stood at 3.3 percent last month, while the full-year average came in at 3.35 percent — both the lowest readings in 25 years, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday.
On a seasonally adjusted basis, last month’s jobless rate was 3.35 percent, marking a 26-year low.
Photo courtesy of New Taipei City Labor Affairs Bureau via CNA
DGBAS Deputy Census Director Tan Wen-ling (譚文玲) said that labor market conditions remained stable last month, supported by steady economic activity and a seasonal pickup in consumption ahead of the Lunar New Year holiday.
Employment typically strengthens during this period, as short-term hiring increases in retail, logistics and other holiday-related industries, she said.
“Based on historical trends, unemployment in January is usually lower than in December,” Tan said, adding that if no unexpected disruptions occur, the jobless rate could edge down further, driven mainly by temporary and short-term hiring tied to year-end festivities.
This year’s Lunar New Year holiday falls in the middle of next month.
Tan also attributed the decline in unemployment to government efforts to boost labor participation, particularly among older workers and women.
Regulatory restrictions on senior employment have been eased, allowing workers aged 65 and older to remain in the workforce by mutual agreement with employers, she said.
Female labor participation has continued to rise, especially among women in their 30s and 40s, making women and middle-aged workers increasingly important pillars of the labor market, Tan said.
By educational attainment, university graduates recorded the highest unemployment rate last year at 4.53 percent, followed by high-school and vocational-school graduates at 3.06 percent.
Postgraduate-degree holders posted the lowest rate, at 2.96 percent.
Unemployment remained significantly higher among younger age groups. The jobless rate stood at 9.21 percent for those aged 15 to 19 and rose to 11.6 percent for the 20-to-24 group, reflecting first-time jobseekers still transitioning into the workforce.
The rate eased to 5.77 percent among people aged 25 to 29 and declined further to 3.37 percent for those aged 30 to 34.
Attention has also turned to whether new Taiwan-US tariff arrangements could support employment.
Tan said it was too early to assess any direct impact, as details were only recently finalized.
Still, she said that the adoption of a flat 15 percent tariff could benefit Taiwan’s traditional industries.
With Europe, Japan and South Korea facing similar tariff levels, the new structure might improve the competitiveness of Taiwanese manufacturers compared with their previous tax burden, she said.
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