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According to the latest labour force statistics released today (June 21) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate stood at 4.3% (provisional figure) in March-May 2007, same as that in February-April 2007. Yet, the underemployment rate increased slightly from 2.1% to 2.2% (provisional figure) over the same period.
Comparing March-May 2007 with February-April 2007, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the communications, sanitary services and financing sectors, while increases were more apparent in the decoration and maintenance, retail and restaurants sectors. As to the underemployment rate, increases were mainly seen in the construction, and amusement and recreational services sectors.
Total employment increased by around 14 000, from 3 462 000 in February-April 2007 to 3 476 000 (provisional figure) in March-May 2007. Over the same period, the labour force increased by around 13 300, from 3 618 300 to a new high of 3 631 600 (provisional figure).
The number of unemployed persons (not seasonally adjusted) decreased by around 800, from 156 300 in February-April 2007 to 155 500 (provisional figure) in March-May 2007, while the number of underemployed persons increased by around 2 000, from 77 600 to 79 600 (provisional figure).
Commentary
A Government spokesman noted that despite a further expansion in the labour supply, the number of unemployed persons (not seasonally adjusted) showed a slight decrease in March-May 2007. This was mainly due to the continued increase in total employment, in tandem with sustained economic growth. Meanwhile, the seasonally adjusted unemployment rate remained unchanged at the nine-year low of 4.3%.
The near-term outlook will depend on the labour demand/supply situation. Growth in the labour supply is expected to accelerate in the next few months, when more and more fresh graduates and school leavers enter the labour market. Whether the unemployment rate will continue to fall hinges on the number of jobs created to absorb these first-time job-seekers.
In May 2007, the Labour Department netted 46 206 vacancies from the private sector, up 13.2% over the same period last year. On average, the Department received 2 200 vacancies per working day.
"To help job-seekers enter/re-enter the labour market, the Department will hold a two-day job fair on 26 and 27 June 2007 at Tuen Mun Town Hall. Some 2 000 vacancies from various industries including retail, catering and property management will be offered. Most of them require Form 5 educational level or below. Job-seekers may have the opportunity for on-the-spot selection interview," the spokesman said.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for March-May 2007 covered a sample of some 24 000 households or 75 000 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 2007 is now available and the next issue covering the quarter April-June 2007 will be available by end August 2007. Users can download this publication free of charge at the Website of the C&SD (www.censtatd.gov.hk/products_and_services/products/publications/index.jsp).
Print version of the current issue of this publication is available for sale at HK$56 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 (www.statisticalbookstore.gov.hk) and the Government Bookstore of the Information Services Department (www.bookstore.gov.hk). Print versions if purchased online are offered a discount, at 85% of their original prices.
Enquiries for more detailed labour force statistics for February-April 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/Thursday, June 21, 2007
Issued at HKT 16:15
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