Unemployment rate stable at 1.7 pct in Dec-Feb

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Macau (MNA) – The general unemployment rate in Macau for the period between December 2018 and February 2019 held stable at 1.7 per cent over the previous period of November 2018-January 2019, the Statistics and Census Services (DSEC) revealed on Wednesday.

The unemployment rate of local residents reached 2.3 per cent, down by 0.1 percentage point.

The underemployment rate was 0.5 per cent, up by 0.1 percentage point.

Total labour force in Macau was 394,800 with a labour force participation rate of 70.8 per cent.

Total employment was 388,100 and the number of residents employed totalled 283,600, down by 3,400 and 3,500, respectively, from the previous period.

Analysed by industry, employment in gaming and junket activities decreased while employment in hotels, restaurants and similar activities increased.

The number of unemployed also dropped 200 from the previous period to 6,700.

New labour market entrants seeking their first job accounted for 6.6 per cent of the total unemployed, posting a decrease of 7.1 percentage points.

In comparison with the previous period, the unemployment rate dropped 0.2 percentage points, while the labour force participation rate and the underemployment rate rose by 0.6 and 0.1 percentage points, respectively.