Taiwan's unemployment ticked up again in July, but the cause is mostly new graduates flooding into the job market rather than a weakening economy.

• The jobless rate rose slightly for the second month in a row, hitting its highest level in about a year.
• The main driver is graduation season, with more first-time jobseekers and the end of seasonal contracts.
• Once seasonal effects are stripped out, employment was flat, pointing to a stable job market.
• More people are looking for work overall, helped by government efforts to bring women into the workforce.
• Young workers bear the brunt: unemployment for those under 25 is far above the national rate.

Outlook: The rate should ease as new graduates find jobs, though the number of people working fewer hours than they want is still creeping up.