************************************************************
According to the latest labour force statistics released today (June 17) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate increased from 4.4% in February-April 2010 to 4.6% (provisional figure) in March-May 2010. Meanwhile, the underemployment rate declined from 2.1% to 2.0% (provisional figure).
Comparing March-May 2010 with February-April 2010, increases in the unemployment rate (not seasonally adjusted) were mainly observed in real estate, professional and business services, arts, entertainment and recreation, import/export trade, and retail sectors. As to the underemployment rate, decreases were mainly seen in the foundation and superstructure, and social work activities sectors.
Total employment decreased by around 7 100 from 3 490 400 in February-April 2010 to 3 483 300 (provisional figure) in March-May 2010. Over the same period, the labour force increased slightly from 3 655 200 to 3 655 700 (provisional figure).
The number of unemployed persons (not seasonally adjusted) increased by around 7 600 from 164 800 in February-April 2010 to 172 400 (provisional figure) in March-May 2010. Over the same period, the number of underemployed persons decreased by around 1 800 from 76 500 to 74 700 (provisional figure).
Commentary
The seasonally adjusted unemployment rate registered its first increase since mid-2009, going up by 0.2 percentage point to 4.6% in March-May 2010.
The Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, said that the increased uncertainties in the external environment, coupled with the fluctuations in the local asset market, had to a certain extent affected general sentiment. Some employers were more cautious in hiring, thus resulting in a decrease in total employment.
He said, "The labour supply is expected to pick up upon the entry of fresh graduates and school leavers into the labour market as summer holidays approach. The latest 0.9 percentage point increase of the unemployment rate for persons aged 15-24 from 10.2% to 11.1% suggested that pressure on youth unemployment is beginning to emerge.
"Hong Kong's overall economic performance remains largely positive at present," Mr Cheung said. "Looking ahead, the trend of unemployment rate will hinge on the pace of economic growth, in particular whether the number of jobs to be created can absorb young job-seekers joining the labour force. The Eurozone debt crisis and its contagion also pose uncertainties to the labour market. This will bring pressure on the unemployment rate in the near future. We will remain vigilant, continue to monitor the situation closely, and do whatever we can to assist job-seekers," he added.
The Recruitment Centre for the Retail Industry of the Labour Department will come into operation next Tuesday (June 22) to provide tailor-made job-matching service and on-the-spot interview arrangements for retail establishments and job- seekers. This is the second recruitment centre dedicated to specific industry following the opening of the Recruitment Centre for the Catering Industry in February last year.
The number of private sector vacancies posted by the Labour Department increased by 4.7% to 61 089 in May 2010 over the 58 359 vacancies in April. The number of successful placements also rose by 8.5% from 11 444 to 12 417 over the same period.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for March-May 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 January-March 2010 is now available and the next issue covering the quarter April-June 2010 will be available by end August 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 February-April 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/Thursday, June 17, 2010
Issued at HKT 16:33
NNNN
