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According to the latest labour force statistics released today (March 17) by the Census and Statistics Department, the seasonally adjusted unemployment rate decreased from 3.8% in November 2010 - January 2011 to 3.6% (provisional figure) in December 2010 - February 2011. Meanwhile, the underemployment rate declined from 1.8% to 1.7% (provisional figure).
Comparing December 2010 - February 2011 with November 2010 - January 2011, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the insurance, food and beverage service activities, and retail sectors. As to the underemployment rate, decreases were mainly seen in the construction and education sectors.
Total employment decreased by around 6 600 from 3 582 100 in November 2010 - January 2011 to 3 575 500 (provisional figure) in December 2010 - February 2011. Over the same period, the labour force decreased by around 13 600 from 3 712 300 to 3 698 700 (provisional figure).
The number of unemployed persons (not seasonally adjusted) decreased by around 6 900 from 130 200 in November 2010 - January 2011 to 123 300 (provisional figure) in December 2010 - February 2011. Over the same period, the number of underemployed persons decreased by around 5 400 from 67 000 to 61 600 (provisional figure).
Commentary
The unemployment and underemployment situation continued to improve. The seasonally adjusted unemployment rate dropped further by 0.2 percentage point from November 2010 - January 2011 to 3.6% in December 2010 - February 2011, the lowest level since July - September 2008. The underemployment rate also dropped by 0.1 percentage point to 1.7%. For young persons aged 15-24, the unemployment rate decreased by another 1.4 percentage points from 10.7% in the previous period to 9.3%.
Commenting on the latest unemployment figures, the Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, said, "Total employment decreased by 6 600 to 3 575 500 in December 2010 - February 2011, in tandem with reduced business activities and labour demand after the Lunar New Year holidays. Nevertheless, as the reduction in total employment was smaller than that in the labour force, the number of unemployed persons fell further to 123 300, the lowest level since April - June 2008 (i.e. before the outbreak of the global financial tsunami)."
On the near-term outlook, Mr Cheung said, "Employers generally are still adopting a positive attitude toward staff hiring. The unemployment rate is expected to remain at low levels in the next few months."
"Although the local economy has remained robust, we must remain vigilant and monitor developments closely given the uncertainties in the external environment, including the possible economic impact from the earthquake in Japan and the political unrest in the Middle East," he added.
Further information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for December 2010 - February 2011 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 publication covering the quarter October - December 2010 is now available and the next issue covering the quarter January - March 2011 will be available by end May 2011. Users can download this publication free of charge at the website of the Census and Statistics Department (www.censtatd.gov.hk/products_and_services/products/publications/statistical_report/labour/index.jsp).
Enquiries for more detailed labour force statistics for November 2010 - January 2011 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, March 17, 2011
Issued at HKT 16:33
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