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According to the latest labour force statistics released today (June 19) by the Census and Statistics Department, the seasonally adjusted unemployment rate declined from 5.1% in February - April 2006 to a 57-month low of 4.9% (provisional figure) in March - May 2006, while the underemployment rate rose from 2.4% to 2.6% (provisional figure).
Comparing March - May 2006 with February - April 2006, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the construction (especially decoration and maintenance), sanitary services, and communications sectors. As to the underemployment rate, increases were concentrated in the construction, restaurants and hotels, and sanitary services sectors.
Total employment increased by around 11 200, from 3 426 800 in February - April 2006 to an all-time high of 3 438 000 (provisional figure) in March - May 2006. Over the same period, the labour force increased by around 5 600, from 3 607 400 to 3 613 000 (provisional figure).
The number of unemployed persons (not seasonally adjusted) decreased by around 5 600, from 180 600 in February - April 2006 to 175 000 (provisional figure) in March - May 2006. Concurrently, the number of underemployed persons increased by around 9 400, from 85 600 to 95 000 (provisional figure).
Commentary
A Government spokesman noted that overall labour demand continued to increase in March - May 2006, along with the sustained revival in economic activity. Total employment surged to a new high of around 3.44 million. The seasonally adjusted unemployment rate fell below the 5% mark to 4.9% for the first time since mid-2001. Further improvement in the labour market situation will hinge on the continued pick-up in the economy leading to greater job creation for absorbing the new batch of fresh graduates and school leavers entering the labour force.
The spokesman pointed out that the labour market remained buoyant. In May, the Labour Department captured 40 801 private sector vacancies, up 14.3% over the same month last year.
To facilitate fresh university graduates to enter the job market, the Department will mount a special two-day job fair for them at the City Hall on June 28 to 29. Some 3 200 vacancies, mainly from the aviation and airport related services industry as well as the information technology and telecommunications sectors, will be offered by about 50 employers.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for March - May 2006 covered a sample of some 23 000 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 January - March 2006 is now available and the next issue covering the quarter April - June 2006 will be available by end August 2006. Users can download this publication free of charge at the "Statistical Bookstore, Hong Kong" (http://www.statisticalbookstore.gov.hk/en/index.html) of the Census and Statistics Department (C&SD).
Print version of the current issue of this publication is available for sale at HK$43 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 Statistical Bookstore and the Government Bookstore of the Information Services Department (www.isd.gov.hk/eng/bookorder.htm). Print versions if purchased online are offered a discount, at 85% of their original prices.
Enquiries for more detailed labour force statistics for February - April 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/Monday, June 19, 2006
Issued at HKT 16:16
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