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According to the latest labour force statistics released today ( February 17) by the Census and Statistics Department, the seasonally adjusted unemployment rate decreased from 5.3% in October - December 2005 to 5.2% (provisional figure) in November 2005 - January 2006, the lowest in 52 months. The underemployment rate also declined, from 2.5% to 2.4% (provisional figure) over the same period.
Total employment decreased by around 4 500, from 3 431 500 in October - December 2005 to 3 427 000 (provisional figure) in November 2005 -January 2006. Meanwhile, the total labour force decreased by around 12 400, from 3 613 400 to 3 601 000 (provisional figure).
Comparing November 2005 - January 2006 with October - December 2005, decreases in the unemployment rate (not seasonally adjusted) were mainly seen in the restaurants, manufacturing, welfare and community services, and communications sectors. As to the underemployment rate, decreases were mainly seen in the decoration and maintenance, welfare and community services, and manufacturing sectors.
The number of unemployed persons (not seasonally adjusted) declined by around 8 000, from 182 000 in October - December 2005 to 174 000 (provisional figure) in November 2005 - January 2006. Concurrently, the number of underemployed persons decreased by around 3 500, from 89 500 to 86 000 (provisional figure).
Commentary
A Government spokesman noted that total employment showed some decline in November 2005 - January 2006, which was partly related to the reduced business activity and labour demand in some sectors such as manufacturing, business services, and welfare and community services possibly during the Lunar New Year holidays. But as this was more than offset by a larger decrease in the labour supply, the number of unemployed persons (not seasonally adjusted) fell further to below 180 000 for the first time since June - August 2001. Meanwhile, the seasonally adjusted unemployment rate also edged down to a 52-month low of 5.2%.
"It is customary for many of the business establishments to review and if necessary adjust their staffing position shortly after the Lunar New Year holidays. Whether unemployment will continue to decline in the short term is therefore dependent upon the results of such a review. We will monitor the situation closely," the spokesman added.
The spokesman pointed out that consumer sentiment was still fairly strong during the festive season. In December 2005, the value of total retail sales, estimated at $19.3 billion, increased by 6.9% over the same month in 2004. For 2005 as a whole, retail sales rose by 6.8% over 2004.
"Strong internal consumption was matched by a continued increase in inbound tourism. Tourist arrivals reached 810 000 during the Lunar New Year Golden Week. For 2005 as a whole, Hong Kong received over 23 million tourists - a historic high. The continuous robust performance of the tourism industry has a positive effect on employment," the spokesman said.
In January 2006, the Labour Department received 26 947 vacancies from the private sector, an increase of 13.9% over the same month last year. This is an all-time high for the month of January. The Department achieved 8 126 placements during the period, up 11.1% over January 2005.
"To help young people plan their career path, the Labour Department and the Hong Kong Trade Development Council will stage the Education and Careers Expo 2006 on 23 to 26 February 2006 at the Hong Kong Convention and Exhibition Centre. The Expo seeks to provide comprehensive information on careers, education and training opportunities," the spokesman added.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for November 2005 - January 2006 covered a sample of some 24 000 households or 76 000 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 October - December 2005 will be available for sale at HK$42 by end February 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.html). 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 October - December 2005 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/Friday, February 17, 2006
Issued at HKT 16:15
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