Taipei: Taiwan's jobless rate fell to 3.29 percent in January, marking the fifth consecutive month of a decline, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Wednesday. Data compiled by the DGBAS showed the January unemployment rate fell 0.01 percentage points from a month earlier to 3.29 percent. After seasonal adjustments, the jobless rate stayed steady at 3.36 percent.

According to Focus Taiwan, 3.29 percent was the lowest January level since 2000's 2.74 percent. Tan Wen-ling, deputy director of the agency's Census Department, told reporters that the falling jobless rate reflected a booming local economy, citing DGBAS statistics showing Taiwan's gross domestic product grew 8.68 percent in 2025, and a 2026 GDP growth forecast of 7.71 percent.

The number of unemployed fell by 2,000 or 0.33 percent from a month earlier to 396,000 in January, while the number of employed rose by 4,000 or 0.04 percent to 11.65 million, with the labor participation rate at 59.61 percent, up 0.02 percentage points from December, the DGBAS said.

In January, the number of those who quit due to dissatisfaction with previous jobs or for health reasons fell by about 4,000 from a month earlier. However, the number of those who lost jobs due to business downsizing or closures rose by 3,000, according to the DGBAS.

By education level, individuals with a university degree had the highest unemployment rate at 4.47 percent in January, while the jobless rate was 2.99 percent for those with a senior high school education and 2.11 percent for those with a junior high school education, the DGBAS added.

Additionally, unemployment among the 15-24 age group was 11.44 percent in January, reflecting the high concentration of first-time job seekers, while the rate was 5.93 percent for the 25-29 age group, the DGBAS said.

DGBAS data also showed that 121,000 people were in time-related underemployment in January, down 6,000 or 5.05 percent from a month earlier, but the figure rose 12,000 or 10.32 percent from a year earlier. The International Labor Organization defines time-related underemployment as workers whose hours are insufficient compared with a more desirable employment situation in which they are willing and available to work more.