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The unemployment rate fell for the third consecutive month to its lowest level in nearly five years, according to the Director General of Budget, Accounting and Statistics (DGBAS). The jobless rate dropped to 4.06%, returning to the level recorded before the global financial crisis of 2008. The Taiwanese government has been working to reduce the jobless rate and is hoping to get unemployment levels below 4% in 2013.
Cen Min, deputy director of DGBAS’s Department of Census says, “The downward trend seen this May indicated that the job market has become more stable. It remains difficult at this moment to predict how large the decline in the unemployment rate in the months after the summer will be. A steeper fall in the fourth quarter would help realise the goal of driving the annual jobless rate below 4%.”
DGBAS also published average monthly wage details for employees working in the industrial and service sectors, which rose +0.67% in the first four months of the year. Wages are now at the highest level ever recorded.