Local residents unemployment remains 2.3%

Macau’s unemployment rate has held steady at 1.7% for the period of June to August, according to the Statistics and Census Service (DSEC).

The unemployment rate for local residents remains 2.3%, both figures reflecting stability compared to the previous period (May – July).

Notably, these rates represent a slight improvement, decreasing by 0.1 percentage points from the same period in 2019.

The total labor force in Macau has grown to 383,400, with total employment rising by 400 to 376,800.

However, the number of employed residents fell by 400 to 285,900.

The Gaming sector has seen an increase in employment, while the Hotels, Restaurants and Similar Activities have declined.

The number of unemployed individuals remained at 6,700, consistent with the previous period but down by 400 from 2019.

Interestingly, the proportion of new entrants to the labor market seeking their first job has risen to 14.7%, indicating a growing pool of fresh graduates.

Most of the unemployed were previously engaged in the Gaming and Retail sectors.

The underemployment rate has also improved, dropping to 1.2%.

There are currently 4,500 underemployed individuals, primarily in Construction and Retail.

Compared to June-August 2023, both the labor force participation and underemployment rates have seen notable declines. LV