***********************************************************
According to the latest labour force statistics released today (May 18) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate stood at 4.4% (provisional figure) in February - April 2010, same as that in January - March 2010. Meanwhile, the underemployment rate decreased from 2.2% to 2.1% (provisional figure).
Comparing February - April 2010 with January - March 2010, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the real estate, wholesale and transportation sectors, while increases were more apparent in the hotels, information and communications, foundation and superstructure and retail sectors. As to the underemployment rate, decreases were mainly seen in the arts, entertainment and recreation, and decoration, repair and maintenance for buildings sectors.
Total employment decreased by around 6 300 from 3 496 700 in January - March 2010 to 3 490 400 (provisional figure) in February - April 2010. Over the same period, the labour force decreased by around 2 100 from 3 657 300 to 3 655 200 (provisional figure).
The number of unemployed persons (not seasonally adjusted) increased by around 4 200 from 160 600 in January - March 2010 to 164 800 (provisional figure) in February - April 2010. Over the same period, the number of underemployed persons decreased by around 3 500 from 80 000 to 76 500 (provisional figure).
Commentary
Labour market conditions held broadly steady in February - April 2010, with the seasonally adjusted unemployment rate remaining at 4.4%, the lowest since the fourth quarter of 2008. The unemployment rate of young people aged 15-24 increased slightly from 9.9% in the previous quarter to 10.2%. For the construction sector, because of a slightly larger increase in the labour supply than employment, the unemployment rate increased by 0.6 percentage point to 8.6%.
The Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, said that Hong Kong's overall economic performance and sentiment remained generally positive at present, with the labour market staying stable.
"On the short-term outlook, whether the unemployment rate can continue the downward trend since mid-2009 depends largely on the pace of economic growth, the labour demand and supply balance, and the number of jobs to be created," Mr Cheung said.
"With the entry of fresh graduates and school leavers into the labour market in the next few months, there will obviously be pressure on the unemployment rate.
"Besides, there are uncertainties in the external environment, particularly the economic and financial market situation in Europe. We therefore need to be vigilant and continue to monitor the situation closely," he added.
In April 2010, the number of private sector vacancies posted by the Labour Department decreased by 11.5% from 65 972 in the preceding month to 58 359, but increased significantly by 29.3% compared with 45 139 in the same period of last year. The number of successful placements rose from 10 521 in March 2010 to 11 444, up by 10.8% over 10 331 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 February - April 2010 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 October - December 2009 is now available and the next issue covering the quarter January - March 2010 will be available by end May 2010. 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/statistical_report/labour/index.jsp).
Enquiries for more detailed labour force statistics for January - March 2010 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/Tuesday, May 18, 2010
Issued at HKT 16:32
NNNN
