The average jobless rate in Taiwan stayed below 4% between January and October of this year. The government statistics office on Monday posted the average for that period at 3.98%.
The office says the figure is likely to gradually drop by the end of this year, once the job market is no longer influenced by factors such as summer vacation and graduation season.
The office says it’s possible that the average annual jobless rate could stay below 4% if the economy remains stable through the end of December. That would be the lowest level reported since 2008.
In October, the jobless rate stood at 3.95%, down 0.29 percentage points from the same month last year. It’s been 19 months since Taiwan posted a monthly jobless rate that was lower than the same month during the previous year.
The office says Taiwan’s workforce participation rate stood at 58.64% last month, up 0.07 percentage points from September.