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According to the latest labour force statistics released today (October 19) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate stood at 4.2% (provisional figure) in July - September 2010, same as that in June - August 2010. The underemployment rate also remained unchanged at 1.9% (provisional figure for July - September 2010).
Comparing July - September 2010 with June - August 2010, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the postal and courier activities, manufacturing and hotels sectors, while increases were more apparent in the cleaning and similar activities, wholesale, and information and communications sectors. As to the underemployment rate, decreases were mainly seen in the foundation and superstructure, and manufacturing sectors, offsetting increases in the decoration, repair and maintenance for buildings, and postal and courier activities sectors.
Total employment increased by around 8 000 from 3 512 600 in June - August 2010 to 3 520 600 (provisional figure) in July - September 2010. Over the same period, the labour force increased by around 2 400 from 3 680 100 to 3 682 500 (provisional figure).
The number of unemployed persons (not seasonally adjusted) decreased by around 5 700 from 167 500 in June - August 2010 to 161 800 (provisional figure) in July - September 2010. Over the same period, the number of underemployed persons increased slightly by around 500 from 70 500 to 71 000 (provisional figure).
Commentary
The seasonally adjusted unemployment rate remained stable at 4.2% in July - September 2010.
The Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, noted that the total employment increased for the fourth consecutive month by around 8 000 in July - September 2010 when compared to the last period, reaching its highest level since November 2008 - January 2009, which indicated a sustained growth in labour demand alongside the economic recovery. The number of unemployed person for the same period decreased by around 5 700 to 161 800, reflecting that the local employment situation is steadily improving.
Mr Cheung pointed out that the unemployment rate of the construction sector further decreased by 0.4 percentage point to 6.6% in July - September 2010. Within that sector, the unemployment rate for the foundation and superstructure sub-sector decreased by 0.5 percentage point to 6.4% and that for the decoration, repair and maintenance for buildings sub-sector fell by 0.2 percentage point to 7.0%.
"This reflects the burgeoning activities of the infrastructure and building safety sectors. Not only do they provide a welcome stimulus to the employment market, they also help lay a sound foundation for Hong Kong's economic development in the future," he said.
On youth employment, Mr Cheung noted that owing to a larger increase in the youth labour supply than employment, the unemployment rate of the 15 - 24 age group went up slightly by 0.3 percentage point to 14.8%. In tandem with the return to schools of many summer workers following the commencement of the new academic year in September, it is expected that the pressure on youth employment will be eased in the near term.
Looking ahead, Mr Cheung said, "The employment outlook will hinge on the pace of economic growth and job creation. While the overall economic performance remains strong and business sentiment is still generally positive in hiring new hands, thereby enabling the labour market to remain stable, the slow economic recovery in the US and the ongoing Eurozone debt problem have added to uncertainties in economic prospects.
"We will continue to be vigilant and monitor developments closely," he added.
In September 2010, the number of private sector vacancies posted by the Labour Department increased significantly by 17.2% from 60 998 in the same period of last year to 71 495, but decreased by 4.6% when compared to 74 905 in the preceding month. The number of successful placements increased by 3.4% from 13 860 in August 2010 to 14 333, and up by 28.3% over 11 172 in the same period last year.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for July - September 2010 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 2010 is now available and the next issue covering the quarter July - September 2010 will be available by end November 2010. Users can download this publication free of charge at the website of the C&SD (www.censtatd.gov.hk/products_and_services/products/publications/statistical_report/labour/index.jsp).
Enquiries for more detailed labour force statistics for June - August 2010 can be directed to the General Household Survey Section (2), C&SD (Tel: 2887 5508; Fax: 2508 1501; E-mail: ghs@censtatd.gov.hk).
Ends/Tuesday, October 19, 2010
Issued at HKT 16:36
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