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According to the latest labour force statistics released today (January 19) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate increased further from 3.8% in September - November 2008 to 4.1% (provisional figure) in October - December 2008. Meanwhile, the underemployment rate increased further from 1.8% to 1.9% (provisional figure) over the same period.
Comparing October - December 2008 with September - November 2008, increases in the unemployment rate (not seasonally adjusted) were mainly observed in the decoration and maintenance, restaurants, import/export trades, transport and manufacturing sectors. As to the underemployment rate, increases were mainly seen in the construction, amusement and recreational services, and transport sectors.
Total employment increased by around 11 200, from 3 533 100 in September - November 2008 to 3 544 300 (provisional figure) in October - December 2008. Over the same period, the labour force increased by around 16 200, from 3 669 500 to an all-time high of 3 685 700 (provisional figure).
The number of unemployed persons (not seasonally adjusted) increased by around 4 900, from 136 400 in September - November 2008 to 141 300 (provisional figure) in October - December 2008. Over the same period, the number of underemployed persons increased by around 4 700, from 65 100 to 69 800 (provisional figure).
Commentary
Total employment went up in October - December 2008, as labour demand was boosted by increased business activities during the run-up to the Christmas and New Year holidays. Yet as employment growth was outpaced by labour force growth, the number of unemployed persons increased further by 4 900 to 141 300. After discounting the seasonal influence, the unemployment rate rose by 0.3 of a percentage point to 4.1%.
The Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, noted that the rising trend in unemployment reflected the impact of the financial tsunami which hit last September.
"With a tough external economic environment and a slackened local employment market, the unemployment rate will continue to come under pressure in the coming months," he said.
"The Government's top priority now is to support enterprises and preserve employment so as to minimise company closures and lay-offs. We will enhance and advance public investment in order to create employment opportunities and facilitate Hong Kong's further economic development," Mr Cheung stressed.
"We will press ahead with the 10 Major Infrastructure Projects and expedite the implementation of other minor works. In the next financial year, the Government will spend more than $29 billion in works projects, creating some 45 300 jobs. Through expediting the recruitment of civil servants and creation of temporary jobs, over 11 000 job opportunities will also be made available," he added.
Mr Cheung pointed out that it was the normal practice for employers to review and, if necessary, adjust their staffing position after the Lunar New Year holidays.
"I sincerely call on employers to seriously explore measures other than staff redundancy to weather the financial tsunami. A committed workforce is an invaluable asset and lay-offs should not be contemplated lightly.
"The Government will closely monitor the employment situation and continue to enhance its employment services on all fronts, especially in netting suitable vacancies from the market, to assist job-seekers," he added.
Last December, the Labour Department netted 42 758 private sector vacancies, down 4.2% over the figure of 44 647 a month earlier.
In 2008, the Labour Department (LD) captured over 670 000 vacancies from the private sector, an increase of 20.0% over 2007. The growth in 2008 was mainly seen in the first three quarters. The vacancies netted in the fourth quarter, which reflected the initial impact of the financial tsunami on the employment market, was about 146 000, down 4.8% over the same period in 2007.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for October - December 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 September - November 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, January 19, 2009
Issued at HKT 16:30
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