Unemployment at 8-year high; employment numbers see biggest drop in history thanks to pandemic restrictions

The economic effects of Taiwan’s Level 3 epidemic restrictions have been felt in the employment sector, with unemployment up, and employment numbers seeing biggest drop in history on a month by month basis, according to May data released by the Directorate-General of Budget, Accounting and Statistics today, July 6.

The unemployment rate for May rose to 4.11%, up from 3.64% in April, marking the highest unemployment rate since 2013.

The human resources survey data was collected between May 23 and 29, after the epidemic restriction measures were implemented the DGBAS pointed out.

DGBAS said that the number of employed persons in May stood at 11.38 million, a decrease of 126,000 from the previous month. The drop was the largest seen since the survey began in 1978.

According to the DGBAS data, the weekly working hours of employees has been severely reduced due to economic impacts of the epidemic restrictions with the number of people unable to find work of more than 35 hours per week numbering 792,000, up a whopping 603,000 month on month, or 76.13%.

The number of unemployed persons was 489,000, up 54,000 or 12.35% over the previous month.

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