Taiwan's unemployment rate edged down to 4.16 percent in November, a decrease of 0.08 percentage points month on month, according to the island's statistics authorities on Monday.

The slight decrease suggests that Taiwan's labor market is stabilizing.

Statistics showed that the number of unemployed stood at 478,000 in November, 9,000 less than October.

Unemployment in the 20-24 age group was 14.08 percent in November, 7.21 percent for those aged 25-29, and 5.21 percent for graduates from college or above.