Labor market shows uneven recovery in Q1

Data from the Statistics and Census Service (DSEC) has revealed an uneven recovery, with the tourism-related sectors showing stronger growth, while other industries experienced more mixed or even declining employment figures.

The survey found that the number of full-time employees in the hotel industry grew significantly by 23.2% year-on-year, reaching 56,414 by the end of the first quarter. This surge was driven by soaring visitor arrivals and the steady recovery of the tourism sector. In contrast, the restaurants industry saw a 6.2% increase in full-time staff, while elderly care and manufacturing also experienced moderate growth of 5.6% and 4.6%, respectively.

The average earnings (excluding irregular remuneration) of full-time employees showed a mixed picture. Hotels and restaurants recorded year-on-year increases of 2.6% and 3.5% respectively, reaching MOP20,470 and MOP10,610 per month.

Other sectors, such as elderly care, child-care, and electricity, gas & water supply, also saw modest wage growth, ranging from 1.9% to 3.2%. The lone exception was manufacturing, where average earnings edged down by 0.9% to MOP12,520.

While the hotel and restaurant industries experienced growth in employment, the survey also revealed a cooling in hiring demand. Job vacancies in hotels and restaurants declined by 1,156 and 574 respectively year-on-year, as many vacant positions were filled, which reflected in the decline in job vacancy rates. HT