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According to the latest labour force statistics released today (April 20) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate decreased from 4.6% in December 2009 - February 2010 to 4.4% (provisional figure) in January - March 2010. Meanwhile, the underemployment rate increased slightly from 2.1% to 2.2% (provisional figure).
Comparing January - March 2010 with December 2009 - February 2010, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the insurance; arts, entertainment and recreation; and information and communications sectors. As to the underemployment rate, increases were mainly seen in the transportation and construction sectors.
Total employment decreased by around 16 900 from 3 513 600 in December 2009 - February 2010 to 3 496 700 (provisional figure) in January - March 2010. Over the same period, the labour force decreased by around 15 400 from 3 672 700 to 3 657 300 (provisional figure).
The number of unemployed persons (not seasonally adjusted) increased by around 1 500 from 159 100 in December 2009 - February 2010 to 160 600 (provisional figure) in January - March 2010. Over the same period, the number of underemployed persons increased by around 1 800 from 78 200 to 80 000 (provisional figure).
Commentary
The seasonally adjusted unemployment rate, following the downtrend since mid-2009, decreased further by 0.2 percentage point to 4.4% in January - March 2010. This is the lowest since the fourth quarter of 2008. Owing to seasonal fluctuation which resulted in a reduced number of seasonal jobs after the Lunar New Year holidays, the unemployment rate for construction sector increased by 0.7 percentage point to 8.0% and that for young people aged 15-19 increased slightly by 0.3 percentage point to 18.2%.
The Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, said, "Whilst business activities in a number of sectors moderated somewhat owing to seasonal fluctuation, the fundamentals of the labour market remained robust. Take the construction industry as an example, the unemployment rate of the sector has registered a cumulative decrease of 4.7 percentage points from the peak in early 2009 and, in absolute terms, the cumulative reduction in the numbers unemployed amounted to 36%."
Mr Cheung noted that the latest feedback on job vacancies and the number of placements suggested that more new jobs will likely be created in the corporate sector in the next one or two months. This should help improve the employment situation in the near term.
He said, "The number of private sector vacancies posted by the Labour Department increased by 64.6% to 65 972 in March 2010 from 40 088 in the preceding month, while it increased by 31.3% over 50 228 in the same period of last year. The vacancies cover a wide variety of positions.
"The Labour Department is holding a three-day job fair at Olympian City starting from yesterday, offering more than 8 000 vacancies of various positions from 120 participating companies from the retail, catering and property management sectors."
Mr Cheung pointed out that with fresh graduates and school leavers entering the labour market this summer, labour supply would increase. "The employment outlook depends much on how well the economy can sustain the current momentum, thereby creating jobs to absorb these first-time job-seekers," he said.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for January - March 2010 covered a sample of some 24 000 households or 75 000 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 2009 is now available and the next issue covering the quarter January - March 2010 will be available by end May 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).
Enquiries for more detailed labour force statistics for December 2009 - February 2010 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, April 20, 2010
Issued at HKT 16:32
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