Taipei: Taiwan’s unemployment rate rose in March for the second straight month, as many workers changed jobs around the Lunar New Year, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Thursday. Data compiled by the DGBAS showed that the March unemployment rate rose 0.02 percentage points from a month earlier to 3.34 percent. After seasonal adjustment, the jobless rate also rose 0.02 percentage points from February to 3.35 percent in March.

According to Focus Taiwan, DGBAS Census Department Deputy Director Tan Wen-ling stated that the increase aligns with seasonal trends, as many workers resign around the Lunar New Year, often after receiving year-end bonuses. Job transitions, particularly among dissatisfied workers, were the main driver of the uptick, she said. DGBAS data showed that the number of unemployed people rose to 402,000 in March, up 2,000 from February, Tan added.

That increase was primarily a result of 5,000 people leaving their jobs due to dissatisfaction in March, she said. The DGBAS also recorded a 3,000 increase in time-related underemployment in March, involving 122,000 people, Tan said. However, unemployment from downsizing, business closures, seasonal employment or temp-jobs decreased by 2,000 people, according to the DGBAS.

Compared with March last year, unemployment fell by 1,000, the agency said, adding that the March jobless rate was the lowest since 2001 for the same period. With the job-change season settling down, the unemployment rate is likely to fall in April before rising again between June and August, the graduation season, when new graduates enter the job market.