TAIPEI - TAIWAN'S unemployment rate in October hit a four-year high of 4.37 per cent largely on business closure and downsizing amid a weakening economy, the government said on Monday.
The figure, up from 4.27 per cent in September, was the highest since reaching 4.50 per cent in September 2004, the government added.
On a seasonally adjusted basis, October unemployment grew to 4.29 per cent from September's 4.12 per cent, the directorate-general of budget, accounting and statistics said.
In October, the number of unemployed rose by 12,000 to 476,000, the agency said.
It said the number of people who lost their job due to closures and downsizing rose 21,000, while those who quit because they were not satisfied increased 2,000, and the number of temporary employees losing their jobs increased 1,000.
The number of first-time job seekers decreased 8,000, it said.
A total of 10.42 million people were employed last month, up 19,000 from the previous month, it said.
In the first ten months of this year, the jobless rate averaged 4.01 per cent, up from 3.92 per cent a year earlier, it added. -- AFP
