The unemployment rate dropped to 3.96% in September. That’s the lowest rate in 14 years. The average unemployment rate for the first 9 months of the year was 3.99%, which is also a 6-year low.
The government’s statistics office said that if the economy continues to improve and there are no major global crises, the unemployment rate for the year will be under 4%. Luo Yi-ling, an official at the statistics office said, " If viruses, economic factors, European deflation and geopolitical factors do not have a major impact on the economic situation, we hope that we will be able to reach our target for an unemployment rate below 4%."
The unemployment rate for 20-24 year olds in September was 13.96% which is 0.33% lower than last month. Unemployment for those with a university degree was 5.13%. That’s also down 0.20 % from last month, so the unemployment outlook for young people is improving.
The average monthly salary for August was NT$38,288 which was an increase of 1.77% over last year. The actual monthly salary for the first eight months of this year was NT$47,243 which was an increase of 3.1% over last year. Though this marks the highest growth in 4 years, the salary figure is still not as high as it was before the 2007 financial crisis.