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MNI BRIEF: Taiwan Unemployment Up Slightly In February

MNI (BEIJING)

Unemployment in Taiwan rose 0.03pp to 3.53% in February, breaking a run of five consecutive months of declines, according to data released by the National Statistics Department on Friday.

The seasonally adjusted unemployment rate declined by 0.02 percentage points to 3.58%, the lowest since February 2021. Labor force participation rose by 0.01 pp to 59.18% y/y.

Taiwan's central bank surprised markets by raising its key policy rate 12.5bp to 1.875% on Thursday, and lowered its growth forecast for 2023 due to weak exports and investment. (SEE MNI BRIEF: Taiwan's CBC Hikes Policy Rate 12.5bp to 1.875% - Bonds & Currency News | Market News)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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