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According to the latest labour force statistics released today (February 19) by the Census and Statistics Department, the seasonally adjusted unemployment rate stood at 3.4% (provisional figure) in November 2007 – January 2008, same as that in October – December 2007. The underemployment rate also held stable at 2.1% in both periods (provisional figure for November 2007 – January 2008).
Comparing November 2007 – January 2008 with October – December 2007, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the welfare and community services, wholesale and retail trades, and decoration and maintenance sectors, while increases were more apparent in the manufacturing and restaurants sectors. As to the underemployment rate, decreases were mainly seen in the communications, construction and transport sectors, offsetting the increases in the amusement and recreational services, and miscellaneous personal services sectors.
Total employment increased by around 18 300, from 3 533 300 in October – December 2007 to an all-time high of 3 551 600 (provisional figure) in November 2007 – January 2008. Over the same period, the labour force increased by around 13 900, from 3 651 100 to 3 665 000 (provisional figure).
The number of unemployed persons (not seasonally adjusted) decreased by around 4 400, from 117 800 in October – December 2007 to 113 400 (provisional figure) in November 2007 – January 2008. The underemployed persons held stable at 75 500 in both periods (provisional figure for November 2007 – January 2008).
Commentary
The labour market remained buoyant in November 2007 – January 2008, with total employment surging to another record high of over 3.55 million and posting a faster increase than the labour force. The number of unemployed persons (not seasonally adjusted) thus declined further. After discounting the effect of a usual upsurge in business activity in the run-up to the Lunar New Year holidays, the seasonally adjusted unemployment rate nevertheless remained stable at 3.4% in November 2007 – January 2008, the lowest level in almost ten years.
In January 2008, the Labour Department (LD) netted 48 142 vacancies from the private sector, a substantial increase of 27.1% over the same period last year. On average, the Department received some 2 200 vacancies per working day.
The Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, stressed that “despite continued improvement in the employment scene, the Government would keep up its efforts to assist those who have difficulty in entering the labour market, particularly those from remote districts such as Tin Shui Wai.”
To this end, two job fairs will be held in Tin Shui Wai this month. The first one is held on February 19-20 in Tin Ching Community Hall, offering over 2 400 vacancies in the catering industry. The second one will be held on February 26-27 in Cine Valley, Kingswood Ginza (Phase II), providing over 2 600 jobs in the retailing sector.
The near-term outlook will hinge on the growth in total employment relative to that in the labour supply in the corporate sector. Meanwhile, labour turnover may also increase after the pay-out of year-end bonuses.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for November 2007 – January 2008 covered a sample of some 23 000 households or 72 000 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 July – September 2007 is now available and the next issue covering the quarter October – December 2007 will be available by end February 2008. 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 Government Bookstore of the Information Services Department (www.bookstore.gov.hk).
Enquiries for more detailed labour force statistics for October – December 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, February 19, 2008
Issued at HKT 16:15
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