Unemployment Rate Analysis
The Executive Yuan released the latest unemployment figures earlier this week. The monthly unemployment rate rose slightly in June to 5.16%, mainly due to impacts of the graduation season. But overall job market conditions, according to the authorities, are showing signs of improvement.
Summer is the high season for fresh college graduates, who have been sending out resumes and looking for a job.
According to the Directorate General of Budget, Accounting and Statistics, the latest unemployment rate is 5.16%, slightly up by 0.02% than last month, with the unemployed population reaching 570,000, up by 3,000 than the previous month.
The agency points out that the actual unemployment rate is declining, given the seasonal reason of college graduates' entry to the labor force.
With economic revival and the increasing demand of manpower, the labor market is improving, because the employed population in the industrial and service sector in May is 6.61 million,
increased by 22,000 than the previous month, the highest levels in the 17 months.
The average salary is also increased by 2.12% to NT$41,131.
The noteworthy phenomenon is the high unemployed population among those between 45 to 64, which amounts to 126,000, up by 3,000 than last month.
According to scholars, although the Employment Services Law prohibits age discrimination, it is a known fact that employers are reluctant to hire middle to high age job seekers.
Therefore, they suggest the Council for Labor Affairs to tackle the matter in a strict standard to avoid the group of labor workesr being marginalized in the job force and end up a more serious structural unemployment issue.
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