Taiwan's Unemployment Hits New High at 4.51 Percent in June

Taiwan's jobless rate in June hit a new high of 4.51 percent as graduates began their search for jobs amid an economic slowdown, officials said Monday.

The figure was up from the previous high of 4.22 percent in May, the Directorate General of Budget, Accounting and Statistics (DGBAS) said.

The DGBAS said 442,000 people were out of work in June, a rise of 31,000 from a month ago, as graduates started joining the job market, which has been contracting from increases in businesses closures and lay-offs.

More than 3,100 Taiwanese factories closed in the six months to June as the economy continued to flounder. This was up 55.3 percent from a year ago, the economic sector said.

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