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According to the latest labour force statistics released today (September 20) by the Census and Statistics Department, the seasonally adjusted unemployment rate decreased from 3.4% in May - July 2011 to 3.2% (provisional figure) in June - August 2011. The underemployment rate increased from 1.7% in May - July 2011 to 1.8% (provisional figure) in June - August 2011.
Comparing June - August 2011 with May - July 2011, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the construction, warehousing and support activities for transportation, food and beverage service activities, and professional and business services (excluding cleaning and similar activities) sectors. As for the underemployment rate, increases were mainly seen in the construction, and food and beverage service activities sectors.
Total employment increased by around 10 800 from 3 625 800 in May - July 2011 to 3 636 600 (provisional figure) in June - August 2011. Over the same period, the labour force increased by around 3 600 from 3 763 000 to 3 766 600 (provisional figure).
The number of unemployed persons (not seasonally adjusted) decreased by around 7 200 from 137 300 in May - July 2011 to 130 100 (provisional figure) in June - August 2011. Over the same period, the number of underemployed persons increased by around 2 200 from 65 800 to 68 000 (provisional figure).
Commentary
The seasonally adjusted unemployment rate dropped by 0.2 percentage point from May - July 2011 to 3.2% in June - August 2011. The underemployment rate rose slightly by 0.1 percentage point to 1.8%.
Commenting on the latest unemployment figures, the Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, said, "Total employment rose for the sixth consecutive month and increased by about 10 800 to reach a new record high of 3 636 600 in June - August 2011. As the employment growth distinctly outpaced the labour supply growth, the number of unemployed persons declined notably by about 7 200 to 130 100. Meanwhile, the seasonally adjusted unemployment rate fell by 0.2 percentage point to 3.2%, the lowest level since December 1997 - February 1998."
On the short-term outlook, Mr Cheung said, "With most summer time workers returning to school upon the start of new academic year in September, the labour supply can be expected to decrease somewhat in the next few months. Regarding the labour demand, while Hong Kong's economic performance has held up rather well so far, the hiring sentiment among employers has turned more cautious lately amidst the deepening Eurozone sovereign debt crisis and the fragile economy in the United States. We will continue to closely monitor external developments and how these will affect Hong Kong's overall economic outlook and the pace of job creation.
"Since the implementation of the statutory minimum wage, the number of private sector vacancies recorded by the Labour Department has stayed at a high level of over 3 000 per working day on average. This level has been maintained in September so far. The Labour Department would keep up its efforts in providing comprehensive and free employment service to job-seekers," Mr Cheung said.
In August 2011, the number of private sector vacancies recorded by the Labour Department increased by 1.2% from 79 345 in July 2011 to 80 315, maintaining an upward trend for four months in a row and up by 7.2% over 74 905 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 June - August 2011 covered a sample of some 24 000 households or 72 000 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 April - June 2011 is now available and the next issue covering the quarter July - September 2011 will be available by end November 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 May - July 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/Tuesday, September 20, 2011
Issued at HKT 16:35
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