**********************************************************
According to the latest labour force statistics released today (January 18) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate decreased from 4.1% in September - November 2010 to 4.0% (provisional figure) in October - December 2010. The underemployment rate declined from 1.9% to 1.8% (provisional figure).
Comparing October - December 2010 with September - November 2010, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the construction, education, and repair, laundry, domestic and other personal service activities sectors. As to the underemployment rate, decreases were mainly seen in the decoration, repair and maintenance for buildings, cleaning and similar activities, and transportation sectors.
Total employment increased by around 21 900 from 3 541 800 in September - November 2010 to 3 563 700 (provisional figure) in October - December 2010. Over the same period, the labour force increased by around 14 900 from 3 685 100 to 3 700 000 (provisional figure).
The number of unemployed persons (not seasonally adjusted) decreased by around 7 000 from 143 300 in September - November 2010 to 136 300 (provisional figure) in October - December 2010. Over the same period, the number of underemployed persons decreased by around 4 600 from 71 600 to 67 000 (provisional figure).
Commentary
The seasonally adjusted unemployment rate dropped further by 0.1 percentage point from September - November 2010 to the prevailing rate of 4.0% in October - December 2010 while the underemployment rate also dropped from 1.9% to 1.8%, showing that the unemployment and underemployment situation remained broadly stable. For younger persons aged 15-24, the unemployment rate decreased by another 1.1 percentage points from 12.5% in the previous period to 11.4%. The unemployment rate of the construction sector likewise continued to improve and fell further by 0.8 percentage point to 4.8%, indicating that the Government's various measures to boost employment in the construction sector are bearing fruit.
Commenting on the latest unemployment figures, the Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, said, "Thanks to the sustained economic growth and job creation, total employment increased for the seventh consecutive month to an all-time high of 3 563 700. As many as 80 400 jobs were created in the labour market in the past seven months. Meanwhile, the number of unemployed persons fell notably to 136 300, the lowest level since August - October 2008 and distinctly lower than the previous peak of 217 000 in mid-2009."
"The year 2010 saw widespread and notable improvements in Hong Kong's labour market conditions, thanks to the sustained economic growth and job gains. Last year, the Labour Department posted 752 323 private sector vacancies, an all-time high figure and up by 27.6 % over 2009. Job placements amounted to 149 609, an increase of 23.8 % over 2009," Mr Cheung said.
On the near-term outlook, Mr Cheung said, "With the seasonal upsurge in business activities in the run-up to the Lunar New Year, there will be continuous demand for labour. According to recent survey data and feedback, employers generally maintain a positive attitude towards business activity and staff recruitment in the next few months. The unemployment rate is expected to remain at low levels in the near term."
"Notwithstanding this, the external environment, in particular the weak performance of the advanced economies and the sovereign debt crisis in the Euro zone, remain a cause for concern. We will continue to monitor developments closely," he added.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for October - December 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 July - September 2010 is now available and the next issue covering the quarter October - December 2010 will be available by end February 2011. Users can download this publication free of charge at the website of the C&SD(www.censtatd.gov.hk/products_and_services/products/publications/statistical_report/labour/index.jsp).
Enquiries for more detailed labour force statistics for September - November 2010 can be directed to the General Household Survey Section (2), C&SD (Tel: 2887 5508; Fax: 2508 1501; E-mail: ghs@censtatd.gov.hk).
Ends/Tuesday, January 18, 2011
Issued at HKT 16:34
NNNN
