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According to the latest labour force statistics released today (March 17) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate increased from 4.6% in November 2008 - January 2009 to 5.0% (provisional figure) in December 2008 - February 2009. The underemployment rate held stable at 2.1% in both periods (provisional figure for December 2008 - February 2009).
Comparing December 2008 - February 2009 with November 2008 - January 2009, increases in the unemployment rate (not seasonally adjusted) were mainly observed in the construction, transport, import/export trades, manufacturing and restaurants sectors. As to the underemployment rate, decreases were mainly seen in the decoration and maintenance, and manufacturing sectors, offsetting the increases in the sanitary services, and amusement and recreational services sectors.
Total employment decreased by around 17 500, from 3 530 000 in November 2008 - January 2009 to 3 512 500 (provisional figure) in December 2008 - February 2009. Over the same period, the labour force decreased by around 3 200, from 3 687 700 to 3 684 500 (provisional figure).
The number of unemployed persons (not seasonally adjusted) increased by around 14 200, from 157 700 in November 2008 - January 2009 to 171 900 (provisional figure) in December 2008 - February 2009. Over the same period, the number of underemployed persons decreased by around 200, from 76 100 to 75 900 (provisional figure).
Commentary
It is noted that the labour market continued to worsen after the Lunar New Year. Total employment in December 2008 - February 2009 was down by 17 500, against the slight decrease in labour supply by 3 200. As a result, the number of unemployed persons increased by 14 200 to 171 900. After discounting the seasonal influence, the unemployment rate went up by 0.4 of a percentage point to 5.0%.
In the near term, the unemployment rate is expected to go up further, as labour demand remains weak given the economic downturn. The employment measures introduced by the Government will go some way towards alleviating the worsening job situation.
The Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, said that the labour market had been much affected by the financial tsunami and the economic slowdown. He stressed that the Government would continue to do its best to help the affected employees and job seekers.
"The Financial Secretary has announced in his Budget Speech a series of measures to provide various types of jobs and training opportunities for job-seekers of different backgrounds.
"In particular, $400 million non-recurrent funding has been earmarked for the Labour Department to enhance and integrate its various employment programmes for youths, middle-aged and disabled persons. Training subsidy to employers will be raised and subsidy period will be extended, where appropriate. Some 44 000 people are expected to benefit from these measures in the next two years.
"Besides, additional funding of $13 million will be provided for the Department to enhance various services to help employees who have lost their jobs in redundancy and closure exercises during the financial crisis," he said.
Mr Cheung also said that an Internship Programme for University Graduates would be launched in August to provide interested university graduates with the opportunities to work as interns and receive training in local or Mainland enterprises for 6 to 12 months. About 4 000 graduates are expected to benefit from the programme.
"An additional $1.1 billion will also be allocated to provide various types of jobs in other areas, including the introduction of the two-year Operation Building Bright which aims to renovate 1 000 dilapidated buildings and will create 10 000 jobs in the next two years.
"All these measures will cost $1.6 billion and create about 62 000 jobs and internship opportunities in the next three years. Together with the 60 000 employment opportunities announced by the Task Force on Economic Challenges earlier, some 120 000 jobs/training places will be created," he added.
In February 2009, the Labour Department netted over 49 000 vacancies from the private sector, down 4.3% over the same period last year, but up nearly 60% on January 2009. The drastic increase was mainly due to the fact that the Lunar New Year holidays fell in January, thus resulting in less working days. On average, the Department received about 2 500 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 December 2008 - February 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 October - December 2008 is now available and the next issue covering the quarter January - March 2009 will be available by end May 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 November 2008 - January 2009 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, March 17, 2009
Issued at HKT 16:30
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