Unemployment rate 1.9 pct

Unemployment rate 1.9 pct, local workers’wages up 12 pct

2013-4-29

From：Macau Daily Times

The unemployment rate during the first quarter of this year remained at 1.9 percent as the increase in employment in the gaming industry and other service sectors was offset by the army of fresh graduates newly joining the labor market. The median income for all workers remained at MOP12,000 while local workers’ pay rose 11.5 percent to MOP14,500.
Information from the Statistics and Census Service (DSEC) indicated that the unemployment rate for January-
March 2013 held stable at 1.9 percent in comparison with the previous period (December 2012-February 2013); the underemployment rate was 0.7 percent, up by 0.1 of a percentage point.
The total labour force was 359,000 and the labour force participation rate stood at 71.9 percent. Total employment reached 352,000, an increase of 1,200 from the previous period. Analysed by industry, employment in Wholesale Trade and Recreational, Cultural, Gaming & Other Services saw increases.
The number of the unemployed increased by 100 from the previous period to 6,800; fresh labour force entrants searching for their first job accounted for 6.2 percent of the total unemployed, down by 0.8 of a percentage point.
In the first quarter of 2013, the general unemployment rate remained unchanged from the previous quarter at 1.9 percent; the unemployment rate for local residents was 2.5 percent, up by 0.1 of a percentage point. The total labour force increased by 1,900 quarter-to-quarter, with the total employed and the unemployed rising by 1,700 and 200 respectively.
Median monthly employment earnings of the employed held stable at MOP12,000 in the first quarter of 2013, while that of the employed local residents stood at MOP14,500, an increase of MOP1,500 quarter-to-quarter.
Macau’s unemployment rate has remained at record low levels: 1.9 percent over the past five months, and 2 percent from August to October last year, and 2.1 percent last July. The figures indicate employers may not always be able to secure sufficient human resources, and it also explains the continuous increase in the number of migrant workers.

Copyright@Macau Daily Times