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According to the latest labour force statistics released today (September 19) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate declined from 4.9% in May - July 2006 to 4.8% (provisional figure) in June - August 2006. The underemployment rate also declined, from 2.6% to 2.4% (provisional figure) between the two periods.
Comparing June - August 2006 with May - July 2006, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the foundation and superstructure construction, business services, and welfare and community services sectors. As to the underemployment rate, decreases were found in the construction (especially decoration and maintenance), sanitary services and manufacturing sectors.
Total employment increased by around 21 400, from 3 452 600 in May - July 2006 to an all-time high of 3 474 000 (provisional figure) in June - August 2006. Over the same period, the labour force increased by around 23 800, from 3 639 200 to a new high of 3 663 000 (provisional figure).
The number of unemployed persons (not seasonally adjusted) increased by around 2 400, from 186 600 in May - July 2006 to 189 000 (provisional figure) in June - August 2006. Meanwhile, the number of underemployed persons decreased by around 4 400, from 93 400 to 89 000 (provisional figure).
Commentary
A Government spokesman noted that total employment increased further to a record high of over 3.47 million in June - August 2006, underpinned by the sustained strong economic expansion. Meanwhile, total labour force grew at a faster pace as fresh graduates and school leavers entered the labour market, thereby leading to a seasonal rise in the number of unemployed persons. After discounting this seasonal factor, the seasonally adjusted unemployment rate went further down to 4.8%, the lowest level in five years.
"Despite the accelerated increase in the labour supply during the summer period caused mainly by the entry of fresh graduates and school leavers, so far these newcomers had been absorbed into employment at a satisfactory pace.
The outlook for the rest of this year will continue to hinge on the overall economic performance and in particular the capacity of the corporate sector to create jobs in the months ahead," the spokesman said.
The spokesman pointed out that the labour market remained buoyant, as witnessed by the large number of job vacancies captured by the Labour Department.
In August, the Department received 49 477 private sector vacancies, up 6.1% over the same month last year. This represented an average of over 2 100 private sector vacancies per working day. For the first eight months of 2006, the figure stood at 327 794, an increase of 19.8% over the same period last year.
In the meantime, the Department achieved 79 754 placements in the first eight months of this year, up 12.5% over the same period last year.
"To respond flexibly to employers' recruitment needs and help job-seekers secure employment and retraining opportunities, the Labour Department and the Employees Retraining Board will jointly hold a two-day job fair on September 27 to 28 at Plaza Hollywood in Kowloon. More than 7 000 vacancies from various sectors including property management, catering, retail, telecommunications, banking and financial services will be offered by 74 companies," the spokesman said.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for June - August 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 April - June 2006 is now available and the next issue covering the quarter July - September 2006 will be available by end November 2006. Users can download this publication free of charge at the "Statistical Bookstore, Hong Kong" (www.statisticalbookstore.gov.hk) of the 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 (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 May - July 2006 can be directed to the General Household Survey Section (2), C&SD (Tel: 2887 5508; Fax: 2508 1501; E-mail: ghs@censtatd.gov.hk).
Ends/Tuesday, September 19, 2006
Issued at HKT 16:15
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