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According to the latest labour force statistics released today (September 18) by the Census and Statistics Department, the seasonally adjusted unemployment rate increased from 4.1% in May - July 2007 to 4.2% (provisional figure) in June - August 2007. Meanwhile, the underemployment rate held stable at 2.3% in both periods (provisional figure for June - August 2007).
Comparing June - August 2007 with May - July 2007, increases in the unemployment rate (not seasonally adjusted) were mainly observed in the communications, real estate and wholesale trade sectors. As to the underemployment rate, decreases were mainly seen in the foundation and superstructure construction, and communications sectors, offsetting the increases in the welfare and community services, and retail trade sectors.
Total employment increased by around 10 100, from 3 494 200 in May - July 2007 to an all-time high of 3 504 300 (provisional figure) in June - August 2007. Over the same period, the labour force increased by around 18 500, from 3 652 200 also to a new high of 3 670 700 (provisional figure).
The number of unemployed persons (not seasonally adjusted) increased by around 8 500, from 157 900 in May - July 2007 to 166 400 (provisional figure) in June - August 2007, while the number of underemployed persons increased by around 300, from 83 500 to 83 800 (provisional figure).
Commentary
A Government spokesman noted that, in tandem with sustained economic growth, total employment hit another record high of over 3.5 million in June-August 2007. Yet, because of the increased number of fresh graduates and school leavers entering the labour market, total labour force grew at a much faster pace, thereby leading to an increase in the number of unemployed persons (not seasonally adjusted). After discounting the seasonal factor, the seasonally adjusted unemployment rate edged up to 4.2% in June - August 2007.
The near-term outlook will continue to hinge on the growth in total employment relative to that in the labour supply. With the return of summer workers to schools upon the commencement of the new academic year, the scope for a further significant increase in labour supply may become increasingly limited.
In August 2007, the Labour Department netted 58 564 vacancies from the private sector, an increase of 18.4% over the same period last year. On average, the Department received over 2 500 vacancies per working day.
"To cater for the needs of fresh graduates and school leavers entering the labour market, the Government will continue to strengthen its employment services and adopt a multi-pronged approach to promote employment on all fronts," 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 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 April - June 2007 is now available and the next issue covering the quarter July - September 2007 will be available by end November 2007. Users can download this publication free of charge at the Website of the Census and Statistics Department (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 May - July 2007 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/Tuesday, September 18, 2007
Issued at HKT 16:16
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