17
March, 2020
64% 19% 17%
High Impact Medium Impact Lower Impact
Taiwan
Latest Available Workforce Statistics
- February 2020
Total Workforce
12m
Unemployed
443K
Impact of Coronavirus
▪ US $3.3bn has been allocated in stimulus. This
includes vouchers to encourage domestic
consumption and money for the transport and tourism
industries.
▪ Taiwan's exports have been severely impacted by
other countries going into lockdown
▪ Schools and businesses extended the Chinese New
Year holidays for two weeks but schools, businesses
and restaurants are now open.
▪ A survey by American Chamber of Commerce in
Taipei in early April, showed that only 4% of the
members interviewed had laid off or furloughed their
staff.
Employment Share: Coronavirus - Likely Impact by Sector
High Impact Medium Impact Lower Impact
Accommodation
and Food Services
8%
Construction
8%
Education
5%
Real Estate;
Business and
Administrative
activities
7%
Financial and
Insurance Activities
4%
Human Health and
Social Work
Activities
3%
Manufacturing
27%
Mining and
Quarrying
<1%
Public Admin,
defence, social
security
3%
Wholesale and
Retail trade
17%
Transport, storage
and communication
7%
Utilities
1%
Arts, Entertainment,
Recreation and
other services
5%
Agriculture, Forestry
and fishing
5%
Share of Workforce based on Sector and Likely Impact of Coronavirus on Jobs
Forecast YOY Change
-4.0%
IMF GDP
Forecast*
*IMF Real GDP Forecast is a baseline scenario which assumes pandemic containment
measures are gradually wound down in the second half of 2020. IMF, World Economic
Outlook, April 2020
IMF, World Economic Outlook, April 2020 https://www.imf.org/en/Publications/WEO/Issues/2020/04/14/weo-april-2020
https://ilostat.ilo.org/data/ https://www.ilo.org/global/topics/coronavirus/lang--en/index.htm
https://www.lexology.com/research/hubs/coronavirus
https://tradingeconomics.com/
https://www.verdict.co.uk/retail-banker-international/news/taiwan-banks-to-get-more-stimulus-funds-as-epidemic-goes-on/
https://www.taiwannews.com.tw/en/news/3916687
https://eng.stat.gov.tw/
