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According to the latest labour force statistics released today (November 16) by the Census and Statistics Department, the seasonally adjusted unemployment rate stood at 4.2% (provisional figure) in August - October 2010, same as that in July - September 2010. The underemployment rate also remained unchanged at 1.9% in the two periods (provisional figure for August - October 2010).
Comparing August - October 2010 with July - September 2010, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the food and beverage service activities, cleaning and similar activities, and foundation and superstructure sectors, while increases were more apparent in the wholesale sector. As to the underemployment rate, decreases were mainly seen in the arts, entertainment and recreation, and wholesale sectors, offsetting increases in the foundation and superstructure, and cleaning and similar activities sectors.
Total employment increased by around 10 800 from 3 520 600 in July - September 2010 to 3 531 400 (provisional figure) in August - October 2010. Over the same period, the labour force increased by around 2 100 from 3 682 500 to 3 684 600 (provisional figure).
The number of unemployed persons (not seasonally adjusted) decreased by around 8 600 from 161 800 in July - September 2010 to 153 200 (provisional figure) in August - October 2010. Over the same period, the number of underemployed persons decreased marginally from 71 000 to 70 700 (provisional figure).
Commentary
The seasonally adjusted unemployment rate remained stable at 4.2% in August - October 2010. On youth employment, the unemployment rate of the 15-24 age group decreased by 0.9 percentage point from 14.8% in July - September 2010 to 13.9%. The unemployment rate of the construction sector has also continued to fall to 6.2%, down by 0.4 percentage point, indicating that the Government's efforts to boost employment in the construction sector have progressively taken effect.
Commenting on the latest unemployment figures, the Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, said, "Thanks to sustained economic growth and job creation, total employment increased for the fifth consecutive month to 3 531 400, the highest level in almost three years since November 2007 - January 2008 and surpassing the level before the financial tsunami for the first time.
"Meanwhile, the number of unemployed persons fell notably further to 153 200, the lowest level in almost two years."
On the near-term outlook, Mr Cheung said, "With the support from the seasonal upsurge in business activity in the run-up to Christmas and the New Year, labour demand is expected to stay firm in the next few months, further easing the pressure on unemployment.
"Notwithstanding this, uncertainties still abound in the external environment, in particular on the effectiveness of the latest round of the United States' quantitative easing (i.e. QE2) in propping up its economy, as well as the lingering sovereign debt problem in the Euro-zone. We will continue to monitor developments closely," he added.
In October 2010, the number of private sector vacancies posted by the Labour Department decreased slightly by 0.4% from 71 495 in the preceding month to 71 216, but increased significantly by 27.7% compared with 55 766 in the same period last year. The number of successful placements slightly dropped from 14 333 in September 2010 to 14 331, but up by 24.1% over 11 545 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 August - October 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 April - June 2010 is now available and the next issue covering the quarter July - September 2010 will be available by end November 2010. 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 July - September 2010 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/Tuesday, November 16, 2010
Issued at HKT 16:34
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