Taiwan’s seasonally adjusted unemployment rate in Taiwan fell to 3.50% in May 2023, down from 3.73% in May 2022, according to data from the Directorate General of Budget Accounting and Statistics.

On a monthly basis, the seasonally adjusted unemployment rate also declined by 0.06% to 3.50 percent.

When compared with that of the previous year, the non-seasonally adjusted unemployment rate declined by 0.22% in May to 3.46%. Over the month, the unemployment rate declined by 0.04%.

The number of unemployed persons was 412,000 in May, a decrease of 5,000 (-1.20%) and 22,000 (-5.01%) from the previous month and that of the previous year, respectively.

Total employment increased by 1,000 +0.01%) in May to 11,507,000; moreover, it also increased by 136,000 (1.20%) when compared with that of the previous year.

When compared to the previous year period, employment in agriculture decreased by 23,000 (-4.34%); however, the industrial sector and the services sector increased by 11,000 (0.28%) and 148,000 (2.18%), respectively.

Month-on-month figures showed employment in agriculture decreased by 5,000 (-0.99%); in contrast, the industry sector and the services sector increased by 1,000 (0.01%) and 6,000 (0.09%) in May, respectively.

Meanwhile, the labour force participation rate declined by 0.05% to 59.13% in May; however, it rose by 0.08% from that of the previous year.