The unemployment rate in March has risen, with officials from the Directorate-General of Budget, Accounting, and Statistics indicating that reciprocal tariffs will impact the employment market. According to the data released on April 22, the unemployment rate for March was 3.35%, a decrease of 0.01 percentage points from the previous month, marking the lowest level for the same month in 25 years, while the seasonally adjusted rate was 3.36%, also up by 0.01 percentage points.

Officials explained that this increase is primarily due to the post-Lunar New Year job switching wave, and that the labor market is currently stable. Since the reciprocity tariffs were announced in April, the employment situation in March has not been affected. Historically, the unemployment rate in April tends to decrease, but the tariff introduces significant uncertainty.

In March, the employed population numbered 11.61 million, a decrease of 6,000 from the previous month, with reductions in the service sector (4,000) and industrial sector (3,000), while the agricultural sector saw an increase of 1,000. Compared to the same month last year, employment increased by 29,000. Moreover, there were 403,000 unemployed individuals in March, an increase of 1,000 month-on-month, where those dissatisfied with their jobs increased by 3,000, while those newly seeking employment decreased by 2,000.