Economy | Employment situation holds stable

The general unemployment rate for the three-month period between December 2018 and February 2019 held stable compared to the previous period (November 2018 to January 2019) at 1.7 percent, according to the latest information from the Statistics and Census Service. The unemployment rate of local residents was 2.3 percent, down by 0.1 percentage points.

Meanwhile, the data shows the underemployment rate was 0.5 percent, up by 0.1 percentage points.

The total labor force was 394,800 and the labor force participation rate was 70.8 percent. Total employment was 388,100 and the number of employed residents totaled 283,600, down by 3,400 and 3,500 respectively from the previous period.

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

The number of unemployed was 6,700, down by 200 from the previous period. New labor market entrants seeking their first job accounted for 6.6 percent of the total unemployed, down by 7.1 percentage points.

In comparison with the December 2017 to February 2018 period, the unemployment rate dropped by 0.2 percentage points, while the labor force participation rate and the underemployment rate rose by 0.6 and 0.1 percentage points, respectively.