Taiwan’s unemployment rate reached 4.11% in May, highest since 2013

Beijing, Jul 7 (EFE).- Taiwan announced that the rate of unemployment increased in May to 4.11 percent – the highest since December 2013 – due to the impact of the Covid-19 pandemic on the job market.

The number of unemployed workers increased by 54,000 and the rate increased by 0.47 percentage points compared to April, the Directorate General of Budget, Accounting and Statistics said on Tuesday night.

The seasonally corrected unemployment rate stood at 4.15 percent, the highest figure since November 2013, the agency said.

Taiwan’s labor participation rate declined by 0.33 percentage points in May to 58.82 percent, according to the data.

The institution attributes the rise in unemployment to the Covid-19 pandemic.

Since an outbreak was discovered on the island in mid-May, Taiwan has recorded more than 11,000 coronavirus cases.

On May 19, Taipei imposed a level-3 alert – the second highest in the country’s four-tier Covid-19 alert scale -, which entails the closure of several public areas and activities, as well as restrictions on the hospitality sector.

In that month, 56,000 more people lost their jobs due to business closures or staff reductions than in April.

The working hours were also reduced.

In May, the number of employees who worked less than 35 hours a week increased by 603,000 compared to April. EFE

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