Unemployment rate climbs to 3.95%

YOUNG PEOPLE SUFFERING:The jobless rate among people aged 15 to 24 was the highest at 11.89 percent, with those aged 45 to 64 having a rate of 2.2 percent

Taipei Times
Date: Mar 23, 2016
By: Crystal Hsu / Staff reporter

The unemployment rate last month edged up to 3.95 percent from 3.87 percent in January, due to people switching jobs and companies shedding temporary and seasonal positions after the Lunar New Year holiday, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday.

The reading after seasonal adjustment stood at 3.94 percent, a fourth consecutive monthly rise, reflecting a gradual slowdown in the job market amid economic weakness, the statistics agency said.

“Unemployment gained 0.08 percentage points from a month earlier and climbed to a 17-month high as companies terminated temporary positions and people changed jobs after the Lunar New Year holiday,” DGBAS deputy section head Chang Yun-yun (張雲澐) told a news conference.

The increase fell within the normal range of 0.05 percentage points to 0.14 percentage points recorded for last month due to seasonality, Chang said, adding that the current level suggested a stable market, although it also started to slow.     [FULL  STORY]

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