Taiwan's Jobless Rate Slides to 4.16% in November 2013

Taiwan's jobless rate slid 0.08 of a percentage point from a month earlier to 4.16% in November 2013, reflecting a slow economic recovery, according to statistics released by the Directorate General of Budget, Accounting and Statistics (DGBAS).

In 2012 the unemployment rate stood at 4.24% and the rate has hovered within a narrow range of between 4.15% and 4.2% through 2013.

In the same month the labor participation rate expanded to 58.57% and the unemployed population fell by 9,000 from a month earlier to 478,000. Among the jobless, the number of unemployed first-time job seekers showed a monthly drop of 6,000 and the number of those losing jobs because of business closures or downsizing declined by 2,000.

In the first 10 months the substantive regular monthly pay of Taiwan's employees averaged at NT$46,326 (US$1,554.2), inching up 0.07% from 2012's corresponding figure. If taking the rise of 0.84% in consumer price index into consideration, the real average pay fell to NT$45,112 (US$1,504), down by 0.77% and lower than the average real monthly pay of NT$45,514 (US$1,517) in 1998. (JL)