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According to the latest labour force statistics released today (August 18) by the Census and Statistics Department, the seasonally adjusted unemployment rate decreased from 3.5% in April - June 2011 to 3.4% (provisional figure) in May - July 2011. The underemployment rate also declined from 1.8% to 1.7% (provisional figure).
Comparing May - July 2011 with April - June 2011, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the import/export trade and wholesale, decoration, repair and maintenance for buildings, and warehousing and support activities for transportation sectors. As for the underemployment rate, decreases were mainly seen in the arts, entertainment and recreation, and food and beverage service activities sectors.
Total employment increased by around 15 200 from 3 610 600 in April - June 2011 to 3 625 800 (provisional figure) in May - July 2011. Over the same period, the labour force increased by around 15 600 from 3 747 400 to 3 763 000 (provisional figure).
The number of unemployed persons (not seasonally adjusted) increased by around 500 from 136 800 in April - June 2011 to 137 300 (provisional figure) in May - July 2011. The number of underemployed persons in May - July 2011 was 65 800 (provisional figure), about the same as 66 200 in April - June 2011.
Commentary
The seasonally adjusted unemployment rate dropped by 0.1 percentage point from April - June 2011 to 3.4% in May - July 2011. The underemployment rate also dropped by 0.1 percentage point to 1.7%.
Commenting on the latest unemployment figures, the Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, said, "Total employment kept growing strongly in May - July 2011 and further increased by about 15 200 to a record high of 3 625 800. Over the same period, the labour force increased by around 15 600 to 3 763 000. New jobs offered by many major economic sectors helped cushion the impact of a notable expansion in the labour supply during the period. Consequently, the number of unemployed persons rose only slightly by 500 during the period. Meanwhile, the seasonally adjusted unemployment rate slightly dropped to 3.4%."
On the short-term outlook, Mr Cheung said, "The employment situation will continue to hinge on the overall economic performance and the capacity of the corporate sector to create jobs. While the overall job vacancy is still at a relatively high level, some employers have adopted a more cautious attitude towards staff recruitment recently. Moreover, the uncertainties in the external environment, especially regarding the economic and fiscal condition of the United States and the sovereign debt crisis in the Eurozone, remain a major cause for concern. We will remain vigilant and closely monitor the development.
"Since April 2010, the number of new private sector vacancies recorded by the Labour Department has stayed at a high level of about 3 000 per working day on average. This level has been maintained in August so far."
In July 2011, the number of private sector vacancies posted by the Labour Department increased by 7.8% from 73 582 in June 2011 to 79 345, and up by 18.9% over 66 734 in the same period last year.
Mr Cheung said that the Labour Department would keep up its efforts in providing comprehensive and free employment services to job-seekers.
Since the implementation of the statutory minimum wage, a total of four large-scale job fairs targeted specifically at the sectors likely to be affected had been organised by the Labour Department in May and July in Tseung Kwan O and Tung Chung respectively. Over 100 organisations participated in the job fairs, offering about 7 300 vacancies. The Labour Department will continue to organise large-scale job fairs between now and the end of this year, canvassing vacancies from different industries for application by job-seekers on-the-spot and hence save their time in job search.
Two such job fairs will be held in August and September, with over 120 participating organisations offering more than 10 000 vacancies.
Further information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for May - July 2011 covered a sample of some 24 000 households or 72 000 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 January - March 2011 is now available and the next issue covering the quarter April - June 2011 will be available by end August 2011. Users can download this publication free of charge at the website of the Census and Statistics Department (www.censtatd.gov.hk/products_and_services/products/publications/statistical_report/labour/index.jsp).
Enquiries for more detailed labour force statistics for April - June 2011 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/Thursday, August 18, 2011
Issued at HKT 16:33
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