DGBASDirectorate General of Budget Accounting and Statistics (Taiwan)
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The unemployment rate for July rose 0.09 percentage points from a month earlier to 3.82 percent, which was the highest in 11 months, according to DGBAS data.
DGBAS indicated that the recruitment of 3K (dirty, dangerous, and difficult working environment in Japanese) industries usually take the longest time of 7.3 months in average.
The new high, which topped 1985's rate of 2.91%, is the latest evidence of a consistent rise in unemployment since 1995, the DGBAS said.
A senior official at DGBAS indicated that Taiwan's unemployment rate usually climbs during the summer when graduates join the job market in either July or August, and the rate in September drops again.
A big factor in the revision was increased investment at home by Taiwan-based companies operating in China that wanted to increase their production capacity in Taiwan to avoid punitive tariffs imposed by the United States on goods made in China, the DGBAS said.
DGBAS attributed the modest increase in pay on the island to the global economic downturn.
Professional employees are defined as those engaging in a number of types of work stipulated in Article 46 of the Employment Service Act, excluding school teachers, said the DGBAS.
Chen Min, deputy director of the national-status census department, DGBAS, pointed out that fresh school graduates had gradually found jobs and the number of jobless people caused by business shrinkage or closures didn't expand, leading to decline in unemployment rate in November.
According to a report released in May by London-based IHS Markit, Taiwan's economic growth rate this year will be 2 percent, while the DGBAS earlier this year predicted an annual growth rate of 2.27 percent.
Perng stated that forecasts for Taiwan's economic growth rate next year by domestic and foreign economic institutions range from 5.4-2.9%, including 3.15% made by the DGBAS. Perng expressed that abnormal climate drove up produce prices this year, boosting the comparison base for the inflation rate next year, when the consumer price index (CPI) is expected to drop to 1.27%, down from this year's 1.93%.
Last May, the DGBAS predicted that annual growth for the year 2019 would reach 2.19 percent.
A monthly survey by DGBAS shows the average monthly pay in September in Taiwan came to NT$37,256 (US$1,241.9) for a YoY rise of merely 0.46%, the lowest of its kind since November 2009.