Interviews
Labour market remains buoyant in Nov'07 to Jan'08
19 Feb '08
3 min read
Commentary:
The labour market remained buoyant in November 2007 – January 2008, with total employment surging to another record high of over 3.55 million and posting a faster increase than the labour force. The number of unemployed persons (not seasonally adjusted) thus declined further.
After discounting the effect of a usual upsurge in business activity in the run-up to the Lunar New Year holidays, the seasonally adjusted unemployment rate nevertheless remained stable at 3.4% in November 2007 – January 2008, the lowest level in almost ten years.
In January 2008, the Labour Department (LD) netted 48 142 vacancies from the private sector, a substantial increase of 27.1% over the same period last year. On average, the Department received some 2 200 vacancies per working day.
The Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, stressed that “despite continued improvement in the employment scene, the Government would keep up its efforts to assist those who have difficulty in entering the labour market, particularly those from remote districts such as Tin Shui Wai.”
To this end, two job fairs will be held in Tin Shui Wai this month. The first one is held on February 19-20 in Tin Ching Community Hall, offering over 2 400 vacancies in the catering industry. The second one will be held on February 26-27 in Cine Valley, Kingswood Ginza (Phase II), providing over 2 600 jobs in the retailing sector.
The near-termoutlook will hinge on the growth in total employment relative to that in the labour supply in the corporate sector. Meanwhile, labour turnover may also increase after the pay-out of year-end bonuses.
The labour market remained buoyant in November 2007 – January 2008, with total employment surging to another record high of over 3.55 million and posting a faster increase than the labour force. The number of unemployed persons (not seasonally adjusted) thus declined further.
After discounting the effect of a usual upsurge in business activity in the run-up to the Lunar New Year holidays, the seasonally adjusted unemployment rate nevertheless remained stable at 3.4% in November 2007 – January 2008, the lowest level in almost ten years.
In January 2008, the Labour Department (LD) netted 48 142 vacancies from the private sector, a substantial increase of 27.1% over the same period last year. On average, the Department received some 2 200 vacancies per working day.
The Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, stressed that “despite continued improvement in the employment scene, the Government would keep up its efforts to assist those who have difficulty in entering the labour market, particularly those from remote districts such as Tin Shui Wai.”
To this end, two job fairs will be held in Tin Shui Wai this month. The first one is held on February 19-20 in Tin Ching Community Hall, offering over 2 400 vacancies in the catering industry. The second one will be held on February 26-27 in Cine Valley, Kingswood Ginza (Phase II), providing over 2 600 jobs in the retailing sector.
The near-termoutlook will hinge on the growth in total employment relative to that in the labour supply in the corporate sector. Meanwhile, labour turnover may also increase after the pay-out of year-end bonuses.
Census and Statistics Department
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