Macau’s overall unemployment rate continued to remain at a low level from May to July, with official data showing the unemployment rate was just 1.7%, the same as the previous period from April to June. according to arrive Statistics and Census Service (DSEC in Portuguese).
The unemployment rate for local residents remained unchanged from the previous period at 2.3%.
Meanwhile, the overall underemployment rate fell to 1.3%, down 0.2 percentage points from the previous quarter.
The labor force and employment population also remained the same as the previous period, at 383,100 and 376,400 respectively. However, the local employment population decreased slightly to 286,300, a decrease of 700 people.
[See more: Unemployment in the second quarter has returned to pre-pandemic levels]
On the other hand, the total number of unemployed persons was 6,700, an increase of 100. The bureau explained that this increase was due to “fresh graduates entering the labor market.”
In terms of the general labor force participation rate, it was 67.8% this quarter, up 0.2 percentage points year-on-year. Meanwhile, the labor force participation rate of local residents was 62.4%, down 0.4 percentage points from the same period last year.
Looking at the major industries, employment in the gaming industry increased by 1.1% to 71,100 people. Construction also increased by 1.5%, with employment reaching 26,700 people. However, wholesale and retail trade fell by nearly 5%, with the number of employees decreasing to 44,300.
Macau’s unemployment rate has been falling gradually since the lifting of COVID-19 restrictions in early 2023. During the height of the pandemic from June to August 2022, Macau Recorded The overall unemployment rate is 4.3% and the local unemployment rate is 5.5%.
[ad_2]
Source link
