Taiwan’s seasonally adjusted unemployment rate fell to 3.60% in January 2023, down from 3.70% in January 2022, according to data from the Directorate General of Budget Accounting and Statistics.

On a monthly basis, the seasonally adjusted unemployment rate declined by 0.01%.

On a non-seasonally adjusted basis, the unemployment rate fell to 3.50%, down by 0.11% year-over-year, and by 0.02% from 3.52% in December 2022.

The number of unemployed persons was 416,000 in January which was a decrease of 14,000, or 3.22% from the previous year, and 2,000 or 0.47% from the previous month.

Meanwhile, total employment increased by 20,000 or 0.17% in January to 11,471,000, however, according to data, it decreased on an annual basis by 3,000 or a marginal 0.03%.

Employment in the agriculture sector decreased by 15,000 or 2.73% year-over-year, and by 14,000 or 0.35% in the industry sector. The services sector posted increases on an annual basis of 25,000 or 0.37%.

On a monthly basis, the agriculture sector decreased by 2,000 or 0.39% while the industry and services sectors posted increases of 2,000 or 0.05%, and 19,000 or 0.29%, respectively.

Taiwan’s labour force participation rate in January remained unchanged at 59.17% in both the previous month and year.