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According to the latest labour force statistics released today (September 18) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate stood at 3.2% (provisional figure) in June – August 2008, same as that in May – July 2008. The underemployment rate also held stable at 1.9% in both periods (provisional figure for June – August 2008).
Comparing June – August 2008 with May – July 2008, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the decoration and maintenance, communications, and manufacturing sectors, while increases were more apparent in the sanitary services, education services, and welfare and community services sectors. As to the underemployment rate, decreases were mainly seen in the foundation and superstructure construction, and retail trade sectors, offsetting the increases in the decoration and maintenance, and miscellaneous personal services sectors.
Total employment increased by around 13,100, from 3,533,200 in May – July 2008 to 3,546,300 (provisional figure) in June – August 2008. Over the same period, the labour force increased by around 17,600, from 3,657,800 to an all-time high of 3,675,400 (provisional figure).
The number of unemployed persons (not seasonally adjusted) increased by around 4,500, from 124,600 in May – July 2008 to 129,100 (provisional figure) in June – August 2008. Over the same period, the number of underemployed persons decreased by around 900, from 69,900 to 69,000 (provisional figure).
Commentary
A Government spokesman noted that amid the increased number of fresh graduates and school leavers entering the labour market, total labour force continued to expand in June – August 2008 to hit a record high of 3.68 million, which outpaced the concurrent growth in total employment. As a result of this seasonality feature, the number of unemployed persons rose moderately over the period. After discounting the seasonal factors, the seasonally adjusted unemployment rate however remained unchanged at 3.2% in June – August 2008.
In August 2008, the Labour Department netted about 64,000 vacancies from the private sector, up 9.3% over the same period last year. On average, the Department received about 3,000 vacancies per working day.
The Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, noted that the unemployment rate has remained stable notwithstanding the expansion in labour supply. “Nevertheless, there is no ground for optimism in face of the global financial turbulence.
“With the further downside risks to the already challenging external environment, the uncertainties clouding over near term outlook for the local economy have increased.
“The Government will closely monitor the impact on job creation and employment while continuing to enhance training, retraining and employment services,” he said.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for June – August 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 April – June 2008 is now available and the next issue covering the quarter July – September 2008 will be available by end November 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 May – July 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/Thursday, September 18, 2008
Issued at HKT 16:16
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