TAIPEI (TVBS News) — Taiwan's labor market showed signs of cooling in February as unemployment inched upward to 3.34%, the Directorate-General of Budget, Accounting and Statistics (DGBAS, 主計總處) reported Monday (March 24). The modest 0.04 percentage point increase interrupts a five-month streak of declining joblessness, signaling potential shifts in the island's economic landscape as post-holiday employment patterns emerge.
The February data revealed 402,000 individuals currently without work, representing a monthly increase of 6,000 people or 1.39%. This reversal follows five consecutive months of improvement in Taiwan's employment picture, with officials attributing the change primarily to seasonal factors including post-Lunar New Year job transitions and the natural conclusion of temporary holiday positions that typically bolster fourth-quarter employment.
A closer analysis of the unemployment surge shows 4,000 workers voluntarily left positions due to job dissatisfaction, while another 2,000 found themselves jobless as seasonal or temporary contracts concluded. Despite the monthly uptick in unemployment, Taiwan's broader employment picture remains relatively robust, with total employment reaching 11.616 million in February—down slightly by 3,000 from January but showing healthy annual growth of 44,000 positions compared to February 2024.
Young Taiwanese continue to face the most challenging job market, with unemployment rates reaching 8.16% for teenagers aged 15-19 and climbing to 11.33% for those in the 20-24 age bracket—figures that reflect the universal challenges of early career establishment. The data shows a clear correlation between age and employment stability, with rates dropping significantly to 5.69% for the 25-29 demographic and further declining to 3.4% for workers aged 30-34. In a methodological update, DGBAS introduced a new labor underutilization indicator offering a more comprehensive view of workforce challenges, revealing that the four-week unemployed population grew by 9,000 to reach 408,000, while the count of underemployed workers—those seeking but unable to secure full-time positions — increased by 9,000 to total 118,000.
