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According to the latest labour force statistics released today (February 18) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate stood at 4.9% (provisional figure) in November 2009 - January 2010, same as that in October - December 2009. Meanwhile, the underemployment rate declined from 2.3% to 2.2% (provisional figure).
Comparing November 2009 - January 2010 with October - December 2009, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the information and communications, accommodation services, and professional and business services sectors, while increases were more apparent in the arts, entertainment and recreation, financing and wholesale sectors. As to the underemployment rate, decreases were mainly seen in the construction and social work activities sectors.
Total employment increased by around 8 600 from 3 497 100 in October - December 2009 to 3 505 700 (provisional figure) in November 2009 - January 2010. Over the same period, the labour force increased by around 2 100 from 3 669 900 to 3 672 000 (provisional figure).
The number of unemployed persons (not seasonally adjusted) decreased by around 6 400 from 172 800 in October - December 2009 to 166 400 (provisional figure) in November 2009 - January 2010. Over the same period, the number of underemployed persons decreased by around 3 900 from 84 500 to 80 600 (provisional figure).
Commentary
The seasonally adjusted unemployment rate remained at 4.9%, the lowest since early last year, after steadily coming down for four consecutive months since July - September 2009. The unemployment rate of the construction sector stood at 7.4%, while the underemployment rate has improved with a decrease by 1.5 percentage points to 10.6%, suggesting that the fundamentals of the sector remained robust. The unemployment rates of the 15-19 and 20-24 age groups decreased by 1.5 percentage points to 18.6% and 0.6 percentage point to 9.9% respectively.
The Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, noted that total employment over the period recorded an increase of 8 600, reflecting the vibrancy in business activities in the run-up to the Lunar New Year holidays, and indicating that the labour market was improving continuously.
He said, "As improving business sentiment and consumer spending should continue to boost labour demand during the Lunar New Year period, pressure on unemployment is expected to ease further. However, in the near term, the performance of the employment market hinges on the overall economic situation, as well as the pace of job creation in the corporate sector.
"Whilst the trend of the unemployment rate remains stable in general, there is no room for complacency as Hong Kong's economic outlook is still subject to uncertainties despite an economic rebound and successive improvement since the second quarter of last year. Specifically, the economic recovery in the advanced economies is far from solid. Also, the timing and pace of phasing out extraordinary fiscal stimulus measures in the advanced economies and the rise of protectionist sentiment are risk factors that we have to guard against. We therefore need to continue to be vigilant and closely monitor the labour market situation."
In January 2010, the number of private sector vacancies posted by the Labour Department decreased by 13% from 54 988 in the preceding month to 47 836, but significantly increased by 53.1% over 31 239 in the same period of last year. The number of successful placements dropped from 11 678 in December 2009 to 10 607, but up by 24.8% over 8 499 in the same period last year.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for November 2009 - January 2010 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 July - September 2009 is now available and the next issue covering the quarter October - December 2009 will be available by end February 2010. 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/statistical_report/labour/index.jsp).
Print version of the current issue of this publication is available for sale at HK$66 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 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/Thursday, February 18, 2010
Issued at HKT 16:30
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