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According to the latest labour force statistics released today (November 17) by the Census and Statistics Department, the seasonally adjusted unemployment rate decreased from 5.5% in July-September 2005 to 5.3% (provisional figure) in August-October 2005. The underemployment rate also declined from 2.6% to 2.5% (provisional figure) between the two periods.
Comparing August-October 2005 with July-September 2005, decreases in the unemployment rate (not seasonally adjusted) were observed in the restaurants, hotels, manufacturing, decoration and maintenance, and transport sectors. As to the underemployment rate, decreases were mainly seen in the foundation and superstructure construction, restaurants and miscellaneous personal services sectors.
Total employment increased by around 24,400, from 3,391,600 in July-September 2005 to an all-time high of 3,416,000 (provisional figure) in August-October 2005. Meanwhile, the total labour force increased by around 11,700, from 3,597,300 to 3,609,000 (provisional figure).
The number of unemployed persons (not seasonally adjusted) declined by around 12,700, from 205,700 in July-September 2005 to 193,000 (provisional figure) in August-October 2005. Concurrently, the number of underemployed persons decreased by around 5,000, from 95,000 to 90,000 (provisional figure).
Commentary
A Government spokesman noted that the unemployment situation improved further in August-October 2005, as employment growth continued to outstrip the labour force growth. New jobs were found not only in the service sectors such as the import/export trades, transport and miscellaneous personal services, but also in the local manufacturing and construction sectors. As a result, the seasonally adjusted unemployment rate fell to a 4-year low of 5.3%. The number of unemployed persons (not seasonally adjusted) dropped to 193,000 and this was the first time that the number has fallen below the 200,000 mark in four years.
The spokesman noted that the labour market remained buoyant and active, with total employment rising to another historic high of 3,416,000. The near-term outlook will depend on the state of business activity and job creation in the corporate sector in the run-up to the Christmas and New Year holidays.
"In the first 10 months of this year, the Labour Department received some 356,878 private sector vacancies, surpassing the full-year figure of 297,186 in 2004 by 20%. Over the same period, the department placed 93,029 job-seekers into employment, up 8% over the full-year figure of 86,257 in 2004," the spokesman said.
"To strengthen employment service to job-seekers in remote districts, the Labour Department will set up a job centre each in Yuen Long and North District next year."
"Meanwhile, the department will continue to organise district-based job fairs in remote areas with higher unemployment. Following the ones successfully held earlier this year in Kwai Tsing, Sheung Shui and Tuen Mun, another one will be held in Tin Shui Wai on November 30. Over 700 vacancies will be offered by 13 employers," the spokesman added.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for August-October 2005 covered a sample of some 25,000 households or 77,000 persons, selected in accordance with a scientifically designed sampling scheme to represent the population of Hong Kong.
Data on labour force characteristics were obtained from the survey by interviewing each member aged 15 or over in the sampled households.
In the survey, the definitions used in measuring unemployment and underemployment follow closely those recommended by the International Labour Organisation.
Detailed analysis of labour force characteristics is given in the Quarterly Report on General Household Survey which is published four times a year. The next issue of the report covering the quarter July-September 2005 will be available for sale at $42 by end November 2005. Both print version and download version of the publication can be purchased online at the "Statistical Bookstore, Hong Kong" (http://www.statisticalbookstore.gov.hk). Download version of the publication can be purchased at 75% of its original price exclusively at the online Statistical Bookstore. Print version if purchased online is also offered a discount, at 85% of its original price at the Statistical Bookstore as well as the Government Bookstore (Address : http://www.isd.gov.hk/eng/bookorder.htm).
For purchase of print version, this can also be done through mail order by returning a completed order form which can be downloaded from the website of the Census and Statistics Department (http://www.info.gov.hk/censtatd/eng/prod_serv/forms_index.html). Purchase can also be made in person at the Publications Unit of the Department (Address: 19/F, Wanchai Tower, 12 Harbour Road, Wan Chai; Tel.: 2582 3025).
Enquiries for more detailed labour force statistics for July-September 2005 can be directed to the General Household Survey Section (2), Census and Statistics Department at Tel: 2887 5506.
Ends/Thursday, November 17, 2005
Issued at HKT 16:15
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