*********************************************************
According to the latest labour force statistics released today (August 18) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate declined from 3.3% in April ¡V June 2008 to 3.2% (provisional figure) in May ¡V July 2008, the lowest level since early 1998. On the other hand, the underemployment rate held stable at 1.9% in both periods (provisional figure for May ¡V July 2008).
Comparing May ¡V July 2008 with April ¡V June 2008, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the construction, transport and import/export trades sectors. As to the underemployment rate, decreases were mainly seen in the decoration and maintenance, welfare and community services, and sanitary services sectors, offsetting the increases in the foundation and superstructure construction, and amusement and recreational services sectors.
Total employment increased by around 1 400, from 3 532 800 in April ¡V June 2008 to 3 534 200 (provisional figure) in May ¡V July 2008. Over the same period, the labour force increased by around 4 500, from 3 654 300 to 3 658 800 (provisional figure).
The number of unemployed persons (not seasonally adjusted) increased by around 3 100, from 121 500 in April ¡V June 2008 to 124 600 (provisional figure) in May ¡V July 2008. Over the same period, the number of underemployed persons increased by around 2 100, from 67 800 to 69 900 (provisional figure).
Commentary
A Government spokesman noted that total labour force increased in May ¡V July 2008, mainly driven by the entry of fresh graduates and school leavers into the labour market. However, owing to a relatively satisfactory absorption of these new comers into the labour market this year and also increased job opportunities in the construction sector, the number of unemployed persons (not seasonally adjusted) only registered a mild increase. After discounting the seasonal factors, the seasonally adjusted unemployment rate edged down to 3.2% in May ¡V July 2008, the lowest level for more than ten years.
The Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, welcomed the latest fall in the unemployment rate. Nevertheless, he stressed that despite the continued improvement in the employment scene, the Government will not be complacent.
¡§The Government will continue to do its best to promote employment on all fronts and help those who have difficulty adjusting to an increasingly knowledge-based economy through training, retraining and skills upgrading,¡¨ Mr Cheung said.
¡§The near-term employment outlook will mainly hinge on the pace of job creation in the economy relative to that in the labour supply, especially given a less sanguine macroeconomic environment over the remainder of 2008.
¡§The Government will also closely monitor the potential impact on local employment arising from the increasing challenges posed by the uncertainties in the external economic environment in the second half of the year,¡¨ he cautioned.
In July 2008, the Labour Department (LD) netted 63 962 vacancies from the private sector, up 36.7% over the same period last year. On average, the Department received about 2 900 vacancies per working day.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for May ¡V July 2008 covered a sample of some 24 000 households or 73 000 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 ¡V March 2008 is now available and the next issue covering the quarter April ¡V June 2008 will be available by end August 2008. 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$57 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 Government Bookstore of the Information Services Department (www.bookstore.gov.hk).
Enquiries for more detailed labour force statistics for April ¡V June 2008 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 18, 2008
Issued at HKT 16:15
NNNN