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According to the newly revised labour force statistics released today (March 20) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate declined from 4.4% in November 2006 – January 2007 to 4.3% (provisional figure) in December 2006 – February 2007, the lowest level since mid-1998. Meanwhile, the underemployment rate also declined from 2.3% to 2.2% (provisional figure).
Comparing December 2006 – February 2007 with November 2006 – January 2007, decreases in the unemployment rate (not seasonally adjusted) were more apparent in the decoration and maintenance, restaurants and real estate sectors. As to the underemployment rate, decreases were mainly found in the construction, and amusement and recreational services sectors.
Total employment decreased by around 7 500, from 3 478 300 in November 2006 – January 2007 to 3 470 800 (provisional figure) in December 2006 – February 2007. Over the same period, the labour force decreased by around 10 700, from 3 628 300 to 3 617 600 (provisional figure).
The number of unemployed persons (not seasonally adjusted) decreased by around 3 100, from 149 900 in November 2006 – January 2007 to a 73-month low of 146 800 (provisional figure) in December 2006 – February 2007, while the number of underemployed persons also decreased by around 3 400, from 83 900 to 80 500 (provisional figure).
The population estimate for end-2006, with the aggregate results of the 2006 Population By-census incorporated, was released on February 22, 2007. As a usual practice, the past series of population estimates compiled since the 2001 Population Census is accordingly revised. Likewise, the past series of labour force statistics compiled since the first quarter of 2001 is revised. The labour force statistics released as from this round onwards pertain to the newly revised series. While the levels of the labour force, total employment, unemployment and underemployment have all been lowered slightly as a result, the unemployment and underemployment rates, being computed as ratios of the respective levels, are virtually unaffected. The time series of newly revised labour force statistics as from the first quarter of 2001 onwards can be found on the website of the C&SD (http://www.censtatd.gov.hk).
Commentary
A Government spokesman noted that total employment showed some decline in December 2006 – February 2007. However, as this was more than offset by a larger decrease in the labour supply, the number of unemployed persons fell further to 146 800, below the 150 000 mark for the second consecutive period. Meanwhile, the seasonally adjusted unemployment rate edged down to 4.3%, the lowest level in over eight and a half years, and the underemployment rate to 2.2%, the lowest in five and a half years.
The spokesman noted that the labour market remained robust. In the two weeks after the Lunar New Year, the Labour Department netted 20 862 vacancies from the private sector, an increase of 11.7% over the corresponding period last year.
"Meanwhile, the Department achieved 17 136 placements in the first two months of 2007, up 4.6% over the same period of 2006," the spokesman said.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for December 2006 – February 2007 covered a sample of some 24 000 households or 74 000 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 October – December 2006 is now available and the next issue covering the quarter January – March 2007 will be available by end May 2007. 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 November 2006 – January 2007 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, March 20, 2007
Issued at HKT 16:15
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