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According to the latest labour force statistics released today (November 18) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate increased from 3.4% in July - September 2008 to 3.5% (provisional figure) in August - October 2008. Meanwhile, the underemployment rate decreased from 1.8% to 1.7% (provisional figure) over the same period.
Comparing August - October 2008 with July - September 2008, increases in the unemployment rate (not seasonally adjusted) were mainly observed in the retail trade, transport, import/export trades, hotels and storage sectors. As to the underemployment rate, decreases were mainly seen in the construction, and amusement and recreational services sectors.
Total employment increased by around 3,600, from 3,543,100 in July - September 2008 to 3,546,700 (provisional figure) in August - October 2008. Over the same period, the labour force increased by around 1,300, from 3,677,200 to an all-time high of 3,678,500 (provisional figure).
The number of unemployed persons (not seasonally adjusted) decreased by around 2,200, from 134,000 in July - September 2008 to 131,800 (provisional figure) in August - October 2008. Over the same period, the number of underemployed persons decreased by around 3,900, from 66,300 to 62,400 (provisional figure).
Commentary
A Government spokesman noted that the seasonally adjusted unemployment rate moved up for the second consecutive period to 3.5% in August - October 2008. The increase in unemployment rate was fairly widespread across both the domestic and external sectors. Yet, as the labour statistics are lagging in nature, they have yet to reflect fully the impact of the global financial tsunami.
Looking ahead, unemployment is expected to rise further in the near term as the global financial turmoil and its contagion effects are felt.
The Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, noted the continued pressure on employment in the face of the deteriorating external economic environment and unsettled global financial market situation.
"Job creation is at the top of the Government's agenda. We will leave no stone unturned to promote employment on all fronts. Some 100 public works projects, creating 40,000 jobs for the construction sector, are expected to come on stream in the next nine months.
"Meanwhile, the Labour Department will closely monitor the recent closure and redundancy cases and proactively render employment support to the retrenched employees.
"For bankruptcy or winding-up cases affecting large number of employees, we will set up special counters at our Job Centres to provide priority referral and job matching services. We will also approach prospective employers to solicit suitable vacancies and inform the affected workers of the employers' interest in hiring them to facilitate their job search.
"I call on employers and employees to work hand in hand to face the challenges ahead. This is the time for understanding by employers and their staff," he added.
In October 2008, the Labour Department netted over 58,000 vacancies from the private sector, up 3% over the same period last year. On average, the Department received about 2,800 vacancies per working day.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for August - October 2008 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 2008 is now available and the next issue covering the quarter July - September 2008 will be available by end November 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 July - September 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, November 18, 2008
Issued at HKT 16:30
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