TAIPEI (Taiwan News) — Taiwan’s unemployment rate dropped to 3.36% in October, down 0.02% from September, according to the government's statistics bureau on Monday. 

It was the lowest jobless rate for the month of October in 25 years. It also marked the second consecutive monthly decline, per CNA.

Tan Wen-ling (譚文玲), deputy director of the Census Department, said the number of unemployed fell to 404,000 in October, a decrease of 3,000, or 0.63%, from the previous month, mainly due to fewer first-time job seekers. Compared to last year, unemployment was down 4,000 workers, or 0.97%.

Labor underutilization also improved. The number of underemployed workers dropped to 126,000 in October, a month-on-month decrease of 3,000, or 2.43%.

Tan said the end of a three-month streak of rising underemployment may be linked to fewer workers on unpaid leave. A weaker Taiwan dollar may also have encouraged manufacturers to take on more orders, prompting some companies to bring employees back earlier.

She said October data showed increases in the labor force and the number of employed, along with declines in unemployment, the seasonally adjusted jobless rate, and underemployment. “All related indicators are moving in a positive direction. Currently, the situation is stable and quite good,” she said.

However, Tan noted that uncertainty remains due to pending Taiwan-US tariff negotiations. She said concerns over future tariff impacts remain the biggest variable for the labor market.