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According to the latest labour force statistics released today (June 17) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate stood at 3.3% (provisional figure) in March - May 2008, same as that in February - April 2008. The underemployment rate also held stable at 1.8% in both periods (provisional figure for March - May 2008).
Comparing March - May 2008 with February - April 2008, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the construction, sanitary services and transport sectors, while increases were more apparent in the amusement and recreational services, restaurants and retail trade sectors. As to the underemployment rate, decreases were mainly seen in the communications and miscellaneous personal services sectors, offsetting the increases in the decoration and maintenance, and amusement and recreational services sectors.
Total employment decreased by around 2,100, from 3,537,300 in February - April 2008 to 3,535,200 (provisional figure) in March - May 2008. Over the same period, the labour force decreased by around 900, from 3,658,200 to 3,657,300 (provisional figure).
The number of unemployed persons (not seasonally adjusted) increased by around 1,200, from 120,900 in February - April 2008 to 122,100 (provisional figure) in March - May 2008. Over the same period, the number of underemployed persons increased by around 1,400, from 65,800 to 67,200 (provisional figure).
Commentary
Both the labour force and total employment showed a slight decrease in March - May 2008 while the number of unemployed persons (not seasonally adjusted) increased moderately. After discounting the seasonal effect, the seasonally adjusted unemployment rate stayed at 3.3% in March - May 2008. Meanwhile, the underemployment remained stable at 1.8%. Both figures were at their lowest level in the recent ten years.
Commenting on the latest figures, the Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung noted that the labour market remained buoyant.
In May 2008, the Labour Department (LD) netted 56,242 vacancies from the private sector, up 21.7% over the same period last year. On average, the Department received over 2,800 vacancies per working day.
To facilitate access by job-seekers to information on job vacancy, LD will continue to organise job fairs. A two-day job fair will be held on July 9-10, 2008 in Maritime Square, Tsing Yi, offering over 2,000 vacancies in various industries such as catering, retail and security services.
"With more and more fresh graduates and school leavers entering the labour market in the next few months, labour supply is expected to expand at a faster pace. Whether the unemployment rate will remain low hinges on whether the pace of job creation in the economy is sufficient to absorb the new batch of job-seekers.
"The Government will keep up its efforts in promoting employment, enhancing the employability of our workforce as well as minimising skills mismatch through training, retraining and skills upgrading," Mr Cheung said.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for March - May 2008 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 January - March 2008 is now available and the next issue covering the quarter April - June 2008 will be available by end August 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$57 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 February - April 2008 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, June 17, 2008
Issued at HKT 16:15
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