*******************************************************
According to the latest labour force statistics released today (October 18) by the Census and Statistics Department, the seasonally adjusted unemployment rate was 3.2% (provisional figure) in July - September 2011, the same as that in June - August 2011. The underemployment rate fell from 1.8% in June - August 2011 to 1.7% (provisional figure) in July - September 2011.
Comparing July - September 2011 with June - August 2011, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the repair, laundry, domestic and other personal service activities, professional and business services (excluding cleaning and similar activities), and food and beverage service activities sectors, while increases were more apparent in the cleaning and similar activities, manufacturing, and foundation and superstructure sectors. As for the underemployment rate, decreases were mainly seen in the hotels sector as well as the arts, entertainment and recreation sector.
Total employment increased by around 5 800 from 3 636 600 in June - August 2011 to 3 642 400 (provisional figure) in July - September 2011. Over the same period, the labour force increased by around 2 800 from 3 766 600 to 3 769 400 (provisional figure).
The number of unemployed persons (not seasonally adjusted) decreased by around 3 000 from 130 100 in June - August 2011 to 127 100 (provisional figure) in July - September 2011. Over the same period, the number of underemployed persons decreased by around 2 200 from 68 000 to 65 800 (provisional figure).
Commentary
The seasonally adjusted unemployment rate stood at 3.2% in July - September 2011, same as that in June - August 2011, the lowest level since December 1997 - February 1998. The underemployment rate dropped by 0.1 percentage point to 1.7%.
Commenting on the latest unemployment figures, the Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, said, "Total employment rose for the seventh consecutive month and increased by about 5 800 to reach a record high of 3 642 400 in July - September 2011. As employment growth continued to outstrip labour supply growth, the number of unemployed persons decreased further by 3 000 to 127 100. On a seasonally adjusted basis, the unemployment rate held steady at the low level of 3.2%, signifying virtually full employment and a strong local demand for labour."
On the short-term outlook, Mr Cheung said, "The employment situation in the near term will depend on the pace of overall economic growth and job creation in the corporate sector. While the local economy has broadly maintained its strength so far, employers have generally turned more cautious towards staff hiring recently amidst growing concern over the Eurozone debt crisis, and subdued economic growth in the United States. We will continue to be vigilant and closely monitor development."
"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 October so far. The Labour Department will keep up its efforts in providing comprehensive and free employment service to job-seekers," Mr Cheung added.
Further information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for July - September 2011 covered a sample of some 24 000 households or 71 000 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 June - August 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, October 18, 2011
Issued at HKT 16:33
NNNN
