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According to the latest labour force statistics released today (December 18) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate increased from 3.5% in August - October 2008 to 3.8% (provisional figure) in September - November 2008. Meanwhile, the underemployment rate increased from 1.7% to 1.8% (provisional figure) over the same period.
Comparing September - November 2008 with August - October 2008, increases in the unemployment rate (not seasonally adjusted) were mainly observed in the retail, construction, manufacturing, communications, and import/export trades sectors. As to the underemployment rate, increases were mainly seen in the construction and sanitary services sectors.
Total employment decreased by around 13,500, from 3,546,600 in August - October 2008 to 3,533,100 (provisional figure) in September - November 2008. Over the same period, the labour force decreased by around 8,900, from 3,678,400 to 3,669,500 (provisional figure).
The number of unemployed persons (not seasonally adjusted) increased by around 4,600, from 131,800 in August - October 2008 to 136,400 (provisional figure) in September - November 2008. Over the same period, the number of underemployed persons increased by around 2,700, from 62,400 to 65,100 (provisional figure).
Commentary
A Government spokesman noted that the seasonally adjusted unemployment rate climbed further to 3.8% in September - November 2008, alongside the slowdown in business activities in both the domestic and external trade sectors. With the adverse effect of the financial turmoil increasingly feeding through to the labour market, the unemployment rate is expected to rise further in the coming months.
The Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, noted with concern that the deteriorating external economic environment would inevitably dampen the local employment market.
Mr Cheung said, "The financial tsunami has caused significant impact on economies around the globe and, as an open economy, Hong Kong will also be affected. It is vitally important that we should work closely together to weather the storm and reduce as far as possible the negative impact on employment.
"Job preservation and creation top the Government's agenda. Over 60,000 jobs will be created next year through expediting major infrastructure and minor improvement projects, recruiting civil servants and creating temporary jobs. These jobs will cover various disciplines, professions and job categories and provide employment opportunities for job seekers with different background."
He said that the Labour Department would proactively assist employees affected by the economic turmoil. It will organise large-scale job fairs in shopping malls and community halls as well as mini-job fairs at its Job Centres. Two large-scale job fairs providing more than 4,000 vacancies from a cross-section of industries are scheduled to be held in Tin Shui Wai on January 5 and 6 next year.
In November 2008, the Labour Department netted around 45,000 vacancies from the private sector, down 20.1% over the same period last year. On average, the Department received about 2,200 vacancies per working day.
"We will continue to step up our training and retraining efforts. The Employees Retraining Board has recently relaxed the eligibility criteria for its half-day and evening courses, and course fees can be waived for low-income persons.
"This will help enhance the employability of the local workforce and better equip them to meet the challenges ahead," he added.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for September - November 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 July - September 2008 is now available and the next issue covering the quarter October - December 2008 will be available by end February 2009. 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 August - October 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, December 18, 2008
Issued at HKT 16:30
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