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According to the latest labour force statistics released today (August 17) by the Census and Statistics Department, the seasonally adjusted unemployment rate declined from 5.0% in April - June 2006 to 4.9% (provisional figure) in May - July 2006. The underemployment rate also declined from 2.7% to 2.6% (provisional figure) between the two periods.
Comparing May - July 2006 with April - June 2006, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the foundation and superstructure construction, sanitary services and wholesale trade sectors. As to the underemployment rate, decreases were found in the decoration and maintenance, manufacturing and education services sectors.
Total employment increased by around 25 000, from 3 427 500 in April - June 2006 to an all-time high of 3 452 500 (provisional figure) in May - July 2006. Over the same period, the labour force increased by around 32 900, from 3 606 600 to a new high of 3 639 500 (provisional figure).
The number of unemployed persons (not seasonally adjusted) increased by around 8 000, from 179 000 in April - June 2006 to 187 000 (provisional figure) in May - July 2006. Meanwhile, the number of underemployed persons decreased by around 3 000, from 96 000 to 93 000 (provisional figure).
Commentary
A Government spokesman noted that total employment surged to an all-time high of above 3.45 million in May - July 2006, along with continued economic expansion. Total labour force likewise rose to a new high upon the increased entry of fresh graduates and school leavers into the job market, thereby leading to a seasonal rise in the number of unemployed persons between the two periods. Thus, upon discounting the seasonal factor, the seasonally adjusted unemployment rate edged down to 4.9% in May - July 2006, back to the level in March - May 2006 and also the lowest in nearly five years. Further improvement in the labour market condition will continue to hinge on the overall economic performance and in particular the pace of job creation in the corporate sector, relative to the labour supply growth.
The spokesman pointed out that the labour market remained buoyant. "In July, the Labour Department received 38 681 private sector vacancies, up 7.6% over the same month last year. For the first seven months of 2006, the figure stood at 278 317, an increase of 22.7% over the same period last year.
"Meanwhile, the Department achieved 69 180 placements in the first seven months of this year, up 14.7% over the same period last year," the spokesman said.
"To develop young school leavers' job skills and working experience, and to enhance their employability and competitiveness, the Labour Department will continue to offer 20 000 training places under the Youth Pre-employment Training Programme and the Youth Work Experience Training Scheme. Joint enrolment has commenced on July 29," the spokesman added.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for May - July 2006 covered a sample of some 24 000 households or 73 000 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 current issue of the report covering the quarter January - March 2006 is now available and the next issue covering the quarter April - June 2006 will be available by end August 2006. Users can download this publication free of charge at the "Statistical Bookstore, Hong Kong" (www.statisticalbookstore.gov.hk) of the Census and Statistics Department (C&SD).
Print version of the current issue of this publication is available for sale at HK$43 per issue. Purchase can be done in person at the Publications Unit of the C&SD (Address : 19/F Wanchai Tower, 12 Harbour Road, Wan Chai; Tel. : 2582 3025) or through mail order by returning a completed order form which can be downloaded from the C&SD's website (http://www.censtatd.gov.hk/products_and_services/other_services/provision_of_stat/mail_ordering_of_publications/index.jsp). Print version of this publication is also available for sale online at the Statistical Bookstore and the Government Bookstore of the Information Services Department (www.isd.gov.hk/eng/bookorder.htm). Print versions if purchased online are offered a discount, at 85% of their original prices.
Enquiries for more detailed labour force statistics for April - June 2006 can be directed to the General Household Survey Section (2), Census and Statistics Department (Tel.: 2887 5508; Fax: 2508 1501; E-mail: ghs@censtatd.gov.hk).
Ends/Thursday, August 17, 2006
Issued at HKT 16:15
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