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According to the latest labour force statistics released today (February 17) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate increased markedly from 4.1% in October - December 2008 to 4.6% (provisional figure) in November 2008 - January 2009. Meanwhile, the underemployment rate also increased from 1.9% to 2.1% (provisional figure) over the same period.
Comparing November 2008 - January 2009 with October - December 2008, the unemployment rate (not seasonally adjusted) rose in almost all economic sectors. As to the underemployment rate, increases were mainly seen in the decoration and maintenance, transport and manufacturing sectors.
Total employment decreased by around 14 300, from 3 544 300 in October - December 2008 to 3 530 000 (provisional figure) in November 2008 - January 2009. Over the same period, the labour force increased by around 2 000, from 3 685 700 to an all-time high of 3 687 700 (provisional figure).
The number of unemployed persons (not seasonally adjusted) increased by around 16 400, from 141 300 in October - December 2008 to 157 700 (provisional figure) in November 2008 - January 2009. Over the same period, the number of underemployed persons increased by around 6 300, from 69 800 to 76 100 (provisional figure).
Commentary
A Government spokesman noted that the labour market deteriorated visibly with the number of unemployed increasing by 16 400 to 157 700 in November 2008 - January 2009. The notable increase in unemployment was attributable to an upsurge in job losses by 14 300, together with a slight increase in labour force by 2 000. The increase in unemployment rate was almost across-the-board as the impact of the global financial tsunami became more apparent on a broad front. After discounting the seasonal influence, the unemployment rate went up by 0.5 of a percentage point to 4.6%. Meanwhile, the underemployment rate also increased further to 2.1%.
Looking ahead, the employment market will remain weak as the effect of the global financial tsunami is spreading to various economic sectors. A further weakening in labour demand after the Lunar New Year is also expected to translate into an increasing unemployment in the near term.
The Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, said that the Government would adhere firmly to the strategy of "stabilising the financial system, supporting enterprises and preserving employment", and continue to do its utmost to ease the pressure on employment.
"The Government will leave no stone unturned in creating job opportunities on all fronts.
"Some 55 000 construction jobs will be created in the next financial year through accelerating infrastructure and minor works projects. The Government will recruit 7 700 civil servants and create about 4 000 temporary openings in the next 14 months. Over 20 statutory bodies will also recruit some 6 000 employees and create about 2 000 temporary jobs or internship opportunities this year," he said.
Mr Cheung further stressed that the Government "is making every effort to help job-seekers".
"The Labour Department will continue to organise large-scale job fairs in shopping malls and community halls as well as mini-job fairs at its Job Centres. To facilitate local residents in seeking jobs, it will hold large-scale job fairs next Friday (February 27) at Lei Yue Mun Plaza, and March 10-11, 2009 at Olympian City II respectively," he added.
Last month, the Labour Department netted around 31 000 vacancies from the private sector, down 35.1% over the same period last year and a decrease of 26.9% over December 2008. On average, the Department received about 1 700 vacancies per working day in January. Apart from the impact brought about by the adverse economic conditions, such decreases in the number of vacancies netted was also due to the lesser number of working days in January and the lesser recruitment needs during Lunar New Year holidays which fell in the same month.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for November 2008 - January 2009 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 July - September 2008 is now available and the next issue covering the quarter October - December 2008 will be available by end February 2009. 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 October - December 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, February 17, 2009
Issued at HKT 16:30
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