Briefs | Unemployment rate remains at 2 percent

The general unemployment rate for June-August 2017 remained stable at 2 percent from the previous period (May-July 2017), according to the Statistics and Census Service (DSEC). The unemployment rate of residents was 2.7 percent, down by 0.1 percent. Meanwhile, the underemployment rate was 0.5 percent, up by 0.1 percent. The total number of participants in the labor force was 392,100 and the labor force participation rate stood at 71.5 percent. Total employment was 384,200 while employed residents totaled 283,800, up by 100 and 1,200 respectively from the previous period. The number of unemployed residents was 7,900, down by 100 from the previous period.

Mainland, Macau negotiate CEPA upgrade

The negotiation between mainland China and Macau on comprehensively upgrading the Closer Economic Partnership Arrangements (CEPA) has entered its final stage, with an upgraded version expected to be signed at the end of this year. A meeting held on Tuesday between representatives from China’s Ministry of Commerce and the Economy and Finance of the local government to negotiate the terms and conditions of the upgraded version of CEPA, which includes two new agreements on investment as well as economic and technical cooperation. The mainland and Macau signed CEPA in 2003 to forge closer ties. In 2014 and 2015, two new agreements were signed under the framework of CEPA to further liberalize trade in services.