Taiwan’s seasonally adjusted unemployment rate fell to 3.42% in August 2023, down from 3.67% in August 2022, according to data from the Directorate General of Budget Accounting and Statistics (DGBAS).

On a monthly basis, the seasonally adjusted unemployment rate declined by 0.01 percentage points to 3.42%.

When compared with the previous year, the unemployment rate declined by 0.23% in August. On a monthly basis, the unemployment rate remained flat compared to July 2023.

The number of unemployed persons was 426,000 in August, it remained unchanged from the previous month but decreased by 23,000 (5.16%) from that of the previous year.

Total employment increased over the month by 3,000 (0.03%) in August to 11,546,000; moreover, it also increased by 144,000(1.26%) when compared with that of the previous year.

When compared with the previous year, employment in agriculture decreased by 25,000 (4.78%); however, the industrial sector and the services sector increased by 7,000 (+0.17%) and 163,000(2.38%), respectively.

On a monthly basis, employment in agriculture and the industry sector decreased by 2,000(0.43%) and 1,000(0.02%) in August, respectively; by contrast, the services sector increased by 5,000(0.08%).

Meanwhile, Taiwan’s force participation rate declined over the month by 0.01% to 59.30% in August; however, it rose by 0.01% from that of the previous year.