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According to the latest labour force statistics released today (March 16) by the Census and Statistics Department, the seasonally adjusted unemployment rate stood at 5.2% (provisional figure) in December 2005 - February 2006, same as that in November 2005 - January 2006. The underemployment rate declined from 2.4% to 2.3% (provisional figure) between the two periods.
Total labour force decreased by around 11 400, from 3 598 400 in November 2005 - January 2006 to 3 587 000 (provisional figure) in December 2005 - February 2006. Over the same period, total employment decreased by around 13 000, from 3 424 000 to 3 411 000 (provisional figure).
Comparing December 2005 - February 2006 with November 2005 - January 2006, decreases in the unemployment rate (not seasonally adjusted) were mainly seen in the restaurants, medical services, wholesale trade and transport sectors, while increases were more apparent in the construction and sanitary services sectors. As to the underemployment rate, decreases were mainly seen in the decoration and maintenance, transport and miscellaneous personal services sectors.
The number of unemployed persons (not seasonally adjusted) increased by around 1 600, from 174 400 in November 2005 - January 2006 to 176 000 (provisional figure) in December 2005 - February 2006. Concurrently, the number of underemployed persons decreased by around 3 700, from 85 700 to 82 000 (provisional figure).
Commentary
A Government spokesman noted that total employment fell in December 2005 - February 2006 as a result of slackened business activity and labour demand in some economic sectors, particularly building and construction, after the Lunar New Year holidays. Nevertheless, as this was largely offset by a similar reduction in the labour supply, the number of unemployed persons (not seasonally adjusted) went up only modestly while the seasonally adjusted unemployment rate remained unchanged at a 4.5-year low of 5.2%. The near-term outlook would depend on the overall economic performance and the growth in labour demand, relative to that in the labour supply.
The spokesman pointed out that the labour market remained active. In February, the Labour Department netted 43 173 private sector vacancies, up 79.1% over the same month last year. On average, close to 2 000 vacancies were received on each working day.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for December 2005 - February 2006 covered a sample of some 24 000 households or 75 000 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 next issue of the report covering the quarter January - March 2006 will be available for sale at HK$43 by end May 2006. Both print version and download version of the publication can be purchased online at the "Statistical Bookstore, Hong Kong" (http://www.statisticalbookstore.gov.hk). Download version of the publication can be purchased at 75% of its original price exclusively at the online Statistical Bookstore. Print version if purchased online is also offered a discount, at 85% of its original price at the Statistical Bookstore as well as the Government Bookstore (http://www.isd.gov.hk/eng/bookorder.htm).
For purchase of print version, this can also be done through mail order by returning a completed order form which can be downloaded from the website of the Census and Statistics Department (http://www.censtatd.gov.hk/eng/prod_serv/forms_index). Purchase can also be made in person at the Publications Unit of the Department (Address: 19/F, Wanchai Tower, 12 Harbour Road, Wan Chai; Tel.: 2582 3025).
Enquiries for more detailed labour force statistics for November 2005 - January 2006 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, March 16, 2006
Issued at HKT 16:15
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