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Taiwan's job vacancy rate declines amid economic slowdown.

Taipei, June 25, 2012 (CENS)--Due to the global economic slowdown, the number of job vacancies in Taiwan decreased by 30,000 in February 2012 from a year earlier, causing the job vacancy to drop to 2.84% in the month and indicating decreased demand for workers by enterprises, according to the survey conducted by the Directorate-General of Budget, Accounting and Statistics (DGBAS) of Taiwan

The DGBAS conducts two job vacancy surveys in February and August per year to better know domestic demand for labor force. The job vacancy rate is normally opposite to the unemployment rate. When the economy warms up, unemployment rate declines but job vacancy rate rises; on the contrary when economy suffers a slowdown, employment rate rises but job vacancy rate drops.

DGBAS said that fueled by the booming economic performance in the first half last year, the number of job vacancies in Taiwan sharply increased to 234,000 in February 2011. But the economic slowdown this year sent the corresponding figure down to 201,000 in February, with the job vacancy rate declining from 3.36% to 2.84%.

Based on DGBAS's surveys in past years, the job vacancy rate this February was relatively higher than the period of global financial crisis, but only slightly higher than the level of 2.7% recorded before the crisis.

Of the 201,000 job vacancies recorded in January this year, the manufacturing sector commanded the highest share, at 42%, among all industries, followed by the wholesale retailers sector with 18%, and the financial/ insurance sector with 6.3%. In terms of job vacancy rate, the real estate industry led with 5.01%, much higher than other industries.

In terms of occupation, job vacancies for machine operators and assembly staff accounted for the highest share of 25%, followed by sales staff, technicians and assistants commanded with 20% each.

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Author:Wang, Andrew
Publication:The Taiwan Economic News
Article Type:Brief article
Geographic Code:9TAIW
Date:Jun 25, 2012
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