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According to the latest labour force statistics released today (December 19) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate declined from 4.5% in August﷿October 2006 to 4.4% (provisional figure) in September﷿November 2006, the lowest level since the beginning of 2001. Meanwhile, the underemployment rate rose from 2.4% to 2.5% (provisional figure).
Comparing September﷿November 2006 with August﷿October 2006, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the wholesale and retail trades, manufacturing and restaurants sectors. As to the underemployment rate, increases were primarily found in the manufacturing, education services, and decoration and maintenance sectors.
Total employment increased by around 12 900, from 3 501 400 in August﷿October 2006 to an all-time high of 3 514 300 (provisional figure) in September﷿November 2006. Over the same period, the labour force increased by around 5 600, from 3 670 300 to 3 675 900 (provisional figure).
The number of unemployed persons (not seasonally adjusted) decreased by around 7 200, from 168 900 in August﷿October 2006 to a 64-month low of 161 700 (provisional figure) in September﷿November 2006, while the number of underemployed persons increased by around 1 300, from 89 500 to 90 800 (provisional figure).
Commentary
A Government spokesman noted that the unemployment situation continued to improve on the back of robust economic performance. The number of unemployed persons fell further in September﷿November 2006, as total employment expanded to another record high and at a pace faster than the labour supply. The seasonally adjusted unemployment rate likewise edged down to 4.4%, the lowest level in almost six years. Meanwhile, the underemployment rate rose slightly, conceivably due to increased employment of part-time and temporary workers in such sectors as restaurants, and decoration and maintenance.
The near-term outlook will mainly hinge on the overall business conditions and in particular job creation in the corporate sector during the festival period around Christmas and the New Year.
The spokesman noted that the labour market remained buoyant. In the first 11 months of this year, the Labour Department netted 449 929 vacancies from the private sector, an increase of 13.4% over the same period last year.
"Meanwhile, the Department achieved 110 276 job placements from January to November 2006, up 6.1% over the same period last year", the spokesman added.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for September﷿November 2006 covered a sample of some 24 000 households or 74 000 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 2006 is now available and the next issue covering the quarter October﷿December 2006 will be available by mid March 2007. Users can download this publication free of charge at the "Statistical Bookstore, Hong Kong" (www.statisticalbookstore.gov.hk) of the C&SD.
Print version of the current issue of this publication is available for sale at HK$43 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 and the Government Bookstore of the Information Services Department (www.isd.gov.hk/eng/bookorder.htm). Print versions if purchased online are offered a discount, at 85% of their original prices.
Enquiries for more detailed labour force statistics for August-October 2006 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, December 19, 2006
Issued at HKT 16:15
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