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According to the latest labour force statistics released today (July 19) by the Census and Statistics Department, the seasonally adjusted unemployment rate declined from 4.3% in March - May 2007 to 4.2% (provisional figure) in April - June 2007, the lowest level since mid-1998. On the other hand, the underemployment rate held stable at 2.2% in both periods (provisional figure for April - June 2007).
Comparing April - June 2007 with March - May 2007, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the construction, amusement and recreational services, and retail trade sectors. As to the underemployment rate, decreases were mainly seen in the insurance and transport sectors, offsetting the increases seen in the foundation and superstructure construction, manufacturing, and amusement and recreational services sectors.
Total employment increased by around 11 700, from 3 475 100 in March - May 2007 to an all-time high of 3 486 800 (provisional figure) in April - June 2007. Over the same period, the labour force increased by around 12 000, from 3 630 600 to a new high of 3 642 600 (provisional figure).
The number of unemployed persons (not seasonally adjusted) increased by around 300, from 155 500 in March - May 2007 to 155 800 (provisional figure) in April - June 2007, while the number of underemployed persons increased by around 1 600, from 79 600 to 81 200 (provisional figure).
Commentary
A Government spokesman noted that labour supply further expanded to another new high in April-June 2007, upon the entry of fresh graduates and school leavers into the labour market. In tandem with sustained economic growth, total employment also hit a historical high of near 3.5 million. Meanwhile, the number of unemployed persons (not seasonally adjusted) held broadly stable. After discounting the seasonal factor, the seasonally adjusted unemployment rate edged down to 4.2%, the lowest level for over nine years.
In the next few months, the entry of fresh graduates and school leavers will continue to affect the labour force and unemployment figures. The near-term outlook of the labour market will depend on whether the pace of job creation in the economy is sufficient to absorb the newcomers.
In June 2007, the Labour Department received 41 723 vacancies from the private sector, up 5.7% over the same period last year.
In the first half of this year, the Department netted 249 381 private sector vacancies, an increase of 4.1% over the same period last year. On average, the Department received over 2 000 vacancies per working day.
"To cater for the new batch of young school leavers seeking to enter the labour market, the Department will press ahead with its two flag-ship youth employment programmes, namely the Youth Pre-employment Training Programme and the Youth Work Experience and Training Scheme. Joint application of the two programmes for 2007/08 will commence on 25 July 2007.
"The two programmes aim to enhance the employability and competitiveness of young people aged 15 to 24 through a wide range of pre-employment and on-the-job training. We have sufficient training places and will not turn away any eligible applicant," the spokesman said.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for April - June 2007 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 January - March 2007 is now available and the next issue covering the quarter April - June 2007 will be available by end August 2007. 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/index.jsp).
Print version of the current issue of this publication is available for sale at HK$56 per issue. Purchase can be done in person at the Publications Unit of the C&SD (Address : 19/F Wanchai Tower, 12 Harbour Road, Wan Chai; Tel: 2582 3025) or through mail order by returning a completed order form which can be downloaded from the C&SD's website (www.censtatd.gov.hk/products_and_services/other_services/ provision_of_stat/mail_ordering_of_publications/index.jsp). Print version of this publication is also available for sale online at the Statistical Bookstore (www.statisticalbookstore.gov.hk) and the Government Bookstore of the Information Services Department (www.bookstore.gov.hk). Print versions if purchased online are offered a discount, at 85% of their original prices.
Enquiries for more detailed labour force statistics for March - May 2007 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, July 19, 2007
Issued at HKT 16:15
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