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Labour market remains buoyant in Nov'07 to Jan'08
Feb '08
According to the latest labour force statistics released February 19 by the Census and Statistics Department, the seasonally adjusted unemployment rate stood at 3.4% (provisional figure) in November 2007 – January 2008, same as that in October – December 2007. The underemployment rate also held stable at 2.1% in both periods (provisional figure for November 2007 – January 2008).

Comparing November 2007 – January 2008 with October – December 2007, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the welfare and community services, wholesale and retail trades, and decoration and maintenance sectors, while increases were more apparent in the manufacturing and restaurants sectors. As to the underemployment rate, decreases were mainly seen in the communications, construction and transport sectors, offsetting the increases in the amusement and recreational services, and miscellaneous personal services sectors.

Total employment increased by around 18 300, from 3 533 300 in October – December 2007 to an all-time high of 3 551 600 (provisional figure) in November 2007 – January 2008. Over the same period, the labour force increased by around 13 900, from 3 651 100 to 3 665 000 (provisional figure).

The number of unemployed persons (not seasonally adjusted) decreased by around 4 400, from 117 800 in October – December 2007 to 113 400 (provisional figure) in November 2007 – January 2008. The underemployed persons held stable at 75 500 in both periods (provisional figure for November 2007 – January 2008).

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Courtesy: Bruckner

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