TAIPEI (Taiwan News) — Taiwan’s unemployment rate in 2023 was the lowest since the turn of the millennium, with most new hires being in the service sector.
The government statistics bureau released the figures showing Taiwan’s overall unemployment rate averaged 3.48%, representing an annual decrease of 0.19%, per CNA. Deputy director of the census division at the statistics bureau Chen Hui-hsin (陳惠欣) said 11.528 million people were employed in 2023, representing an annual increase of 110,000.
Chen said the main increase in employment was in the service industry, which added 128,000 jobs in 2023. This increase was offset by decreases in the manufacturing and other industries.
Looking forward to 2024, Chen said that according to past trends, the unemployment rate is likely to continue to decrease in January. Chen said after the Lunar New Year holiday in February, Taiwan usually sees an increase in those out of work as people look for new jobs, but this year it is hard to tell if this will eventuate.
The statistics bureau will try using a new reporting method to report unemployment statistics in 2024, which may cause the unemployment rate to increase. Chen said the method being trailed is currently used in the U.S., Japan, and South Korea.
