Taiwan’s seasonally adjusted unemployment rate fell to 3.43% in July 2023, down from 3.68% in July 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 0.02% to 3.43%.

When compared with that of the previous year, the non-seasonally adjusted unemployment rate declined by 0.22% in July. On a monthly basis, the unemployment rate rose by 0.07% to 3.56% in July.

The number of unemployed persons was 426,000 in July, it increased by 9,000 (2.23%) but decreased by 22,000 (-4.96%) from the previous month and that of the previous year, respectively.

Total employment increased by 25,000 (up 0.22%) in July to 11,543,000; moreover, it also increased by 146,000 (1.28%) when compared with that of the previous year.

When compared with that of the previous year, employment in agriculture decreased by 22,000 (-4.14%); however, the industrial sector and the services sector increased by 3,000 (0.08%) and 165,000 (2.41%), respectively.

Month-on-month figures showed that employment in agriculture and the industrial sector decreased by 2,000 (-0.36%) and 1,000 (-0.04%) in July, respectively; by contrast, the services sector increased by 29,000 (0.41%).

Meanwhile, Taiwan’s labour force participation rate rose by 0.14% to 59.31% in July; furthermore, it also rose by 0.03% from that of the previous year.