TAIPEI - TAIWAN'S unemployment rate in November hit a four-year high of 4.64 per cent largely on business closures and downsizing amid the deteriorating economic climate, the government said on Monday.

The figure, up from October's 4.37 per cent, was the highest since 4.67 per cent recorded in August 2004.

On a seasonally adjusted basis, November unemployment grew to 4.62 per cent from October's 4.29 per cent, the directorate-general of budget, accounting and statistics said.

In November, the number of the unemployed rose 31,000 to 507,000 from October with the number of people who lost their jobs due to business closures and downsizing up 36,000, the agency said.

A total of 10.41 million people were employed in November, down 14,000 from a month earlier.

In the first 11 months of this year, the jobless rate averaged 4.06 per cent, up 0.14 percentage points from a year earlier. -- AFP