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According to the latest labour force statistics released today (December 16) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate decreased from 4.2% in August - October 2010 to 4.1% (provisional figure) in September - November 2010. The underemployment rate remained unchanged at 1.9% in the two periods (provisional figure for September - November 2010).
Comparing September - November 2010 with August - October 2010, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the hotels, warehousing and support activities for transportation, and cleaning and similar activities sectors. As to the underemployment rate, decreases were mainly seen in the arts, entertainment and recreation, and manufacturing sectors, offsetting increases in the construction and education sectors.
Total employment increased by around 10 400 from 3 531 400 in August - October 2010 to 3 541 800 (provisional figure) in September - November 2010. The labour force was 3 685 100 (provisional figure) in September - November 2010, similar to 3 684 600 in August - October 2010.
The number of unemployed persons (not seasonally adjusted) decreased by around 9 900 from 153 200 in August - October 2010 to 143 300 (provisional figure) in September - November 2010. Over the same period, the number of underemployed persons increased by around 900 from 70 700 to 71 600 (provisional figure).
Commentary
The seasonally adjusted unemployment rate dropped by 0.1 percentage point from August - October 2010 to the prevailing rate of 4.1% in September - November 2010, showing that the unemployment situation remained broadly stable. For younger persons aged 15-24, the unemployment rate decreased markedly by 1.4 percentage points from 13.9% in the previous period to 12.5%. The unemployment rate of the construction sector likewise continued to improve and fell further by 0.6 percentage point to 5.6%, indicating that the Government's various measures to boost employment in the construction sector have continued to take effect.
Commenting on the latest unemployment figures, the Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, said, "Thanks to the sustained economic growth and job creation, total employment increased for the sixth consecutive month to an all-time high of 3 541 800, surpassing the previous peak of 3 537 900 in early 2008. As many as 58 500 jobs were created in the past six months. Meanwhile, the number of unemployed persons fell notably to 143 300, the lowest level in almost two years."
On the near-term outlook, Mr Cheung said, "With the seasonal upsurge in business activities in the run-up to the Lunar New Year, labour demand is expected to stay firm and newly created jobs would help absorb job-seekers. The unemployment rate is expected to remain at the currently low level."
"Notwithstanding this, the external environment, in particular the fragile state of the US economy and the sovereign debt crisis hanging over the Euro-zone, may still affect Hong Kong. We will continue to monitor developments closely," he added.
In November 2010, the number of private sector vacancies posted by the Labour Department decreased slightly by 0.9% from 71 216 in the preceding month to 70 576, but increased significantly by 24.8% compared with 56 572 in the same period last year. The number of successful placements slightly dropped from 14 331 in October 2010 to 14 137, but up by 17.8% over 12 004 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 September - November 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 publication covering the quarter July - September 2010 is now available and the next issue covering the quarter October - December 2010 will be available by end February 2011. 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 August - October 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/Thursday, December 16, 2010
Issued at HKT 16:35
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