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November 24, 2009

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Taiwan Jobless Rate Dips Slightly

TAIWAN'S jobless rate fell slightly to 5.96 percent in October as fewer people lost their jobs due to company layoffs.

The island yesterday said the rate dropped for the second month after reaching a high of 6.13 percent in August amid emerging signs of a global economic recovery.

The rate stood at 6.04 percent in September.

A total of 653,000 were unemployed in October, down from 660,000 in September.

The island's jobless rate had climbed steadily since late 2008 when exports shrank amid the global financial crisis.

Taiwan's economy slid 7.5 percent in the second quarter. Authorities have predicted a 4-percent decline in the economy this year.


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