Taiwan’s seasonally adjusted unemployment rate fell to 3.37% in November 2023, down from 3.64% in November 2022, according to data from the Directorate General of Budget Accounting and Statistics (DGBAS).

On a non-seasonally adjusted basis, compared with that of the previous year, the unemployment rate declined by 0.27% in November 2023 to 3.34%. On a monthly basis, the unemployment rate declined by 0.09%.

The number of unemployed persons was 400,000 in November, a decrease of 11,000 (-2.62%) and 28,000(-6.60%) from the previous month and that of the previous year, respectively.

Total employment over the month increased by 19,000 (+0.16%) in November to 11,577,000; moreover, it also increased by 147,000(+1.29%) when compared with that of the previous year.

Compared with that of the previous year, employment in the agriculture sector decreased by 26,000 (-5.06%); however, the industry and the services sector increased by 7,000 (+0.17%) and 167,000 (+2.43%), respectively.

Employment in agriculture sector remained unchanged from the previous month, and the industry and the services sector increased by 4,000 (+0.09%) and 16,000 (+0.22%), respectively.

Meanwhile, the labour force participation rate rose by 0.02% to 59.26% in November; furthermore, it also rose by 0.06% from that of the previous year.