**********************************************************
According to the latest labour force statistics released today (April 19) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate stood at 4.3% (provisional figure) in January - March 2007, same as that in December 2006 - February 2007. The underemployment rate also held stable at 2.2% in both periods (provisional figure for January - March 2007).
Comparing January - March 2007 with December 2006 - February 2007, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the amusement and recreational services, communications and real estate sectors, while increases were more apparent in the construction, manufacturing and sanitary services sectors. As to the underemployment rate, decreases were mainly seen in the sanitary services and communications sectors, offsetting the increases in the amusement and recreational services, and the wholesale trade sectors.
Total employment decreased by around 11 200, from 3 471 100 in December 2006 - February 2007 to 3 459 900 (provisional figure) in January - March 2007. Over the same period, the labour force decreased by around 5 500, from 3 617 900 to 3 612 400 (provisional figure).
The number of unemployed persons (not seasonally adjusted) increased by around 5 700, from 146 800 in December 2006 - February 2007 to 152 500 (provisional figure) in January - March 2007. The number of underemployed persons held stable at 80 500 in both periods (provisional figure for January - March 2007).
Commentary
A Government spokesman noted that whereas total labour supply decreased in January - March 2007, this was more than offset by a larger reduction in total employment owing to the slackened business activity and labour demand after the Lunar New Year holidays. As a result, the number of unemployed persons (not seasonally adjusted) rose back slightly, after declining for six consecutive periods. Yet having discounted the seasonal influence, the seasonally adjusted unemployment rate remained unchanged at 4.3%, the lowest level in over eight and a half years.
In March 2007, the Labour Department received 52 701 vacancies from the private sector, an increase of 5.3% over the same month last year.
"In the first quarter of 2007, the Department achieved 27 328 placements, a slight increase of 1.1% over the same period last year," the spokesman said.
The near term employment outlook will hinge on the overall economic performance and in particular the pace of job creation in the corporate sector, relative to the labour supply growth.
Further Information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
The survey for January - March 2007 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 current issue of the report covering the quarter October - December 2006 is now available and the next issue covering the quarter January - March 2007 will be available by end May 2007. Users can download this publication free of charge at the "Statistical Bookstore, Hong Kong" (www.statisticalbookstore.gov.hk) of the 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 December 2006 - February 2007 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/Thursday, April 19, 2007
Issued at HKT 16:15
NNNN
