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According to the latest labour force statistics released today (August 20) by the Census and Statistics Department, the seasonally adjusted unemployment rate declined from 4.2% in April - June 2007 to 4.1% (provisional figure) in May - July 2007, the lowest level since mid-1998. Yet, the underemployment rate increased slightly from 2.2% to 2.3% (provisional figure) over the same period.
Comparing May - July 2007 with April - June 2007, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the decoration and maintenance, and transport sectors, whereas increases were mainly found in the amusement and recreational services, and real estate sectors. As to the underemployment rate, increases were mainly seen in the amusement and recreational services, and sanitary services sectors.
Total employment increased by around 9 000, from 3 485 000 in April - June 2007 to an all-time high of 3 494 000 (provisional figure) in May - July 2007. Over the same period, the labour force increased by around 11 200, from 3 640 700 also to a new high of 3 651 900 (provisional figure).
The number of unemployed persons (not seasonally adjusted) increased by around 2 200, from 155 700 in April - June 2007 to 157 900 (provisional figure) in May - July 2007, while the number of underemployed persons increased by around 2 300, from 81 200 to 83 500 (provisional figure).
Commentary
A Government spokesman noted that total labour supply expanded further by over 11 000 in the latest period to a new high of 3.65 million, owing to an increased number of first-time job-seekers, comprising mainly fresh graduates and school leavers, entering the labour market. Yet as these new entrants to the labour force had been largely absorbed into employment, the number of unemployed persons went up by only 2 200. After discounting the seasonal factor, the seasonally adjusted unemployment rate in fact continued to edge down to 4.1%, the lowest level for more than nine years.
Whether the seasonally adjusted unemployment rate will decline further to the 4% mark or below in the near term hinges on the growth in total employment relative to that in the labour supply especially the labour force participation rate within it.
In July 2007, the Labour Department received 46 799 vacancies from the private sector, a hefty increase of 21.0% over the same period last year. On average, the Department received over 2 200 vacancies per working day.
¡§To help job-seekers enter/re-enter the labour market, the Department will continue to strengthen its employment services to promote employment on all fronts,¡¨ the spokesman said.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for May - July 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 April ¡V June 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/Monday, August 20, 2007
Issued at HKT 16:15
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