November events reduce unemployment rate

The number of big events in November boosted the demand for labor in November, slightly lowering the general unemployment rate to 3.7%.

Data from the Statistics and Census Service (DSEC) has indicated that the unemployment rate of local residents for September-November 2022 decreased by 0.3 percentage points to 4.7% from the previous period (August-October 2022). The underemployment rate also dropped 2.2 percentage points to 4.3%.

The labor force living in Macau totaled 375,900 and the labor force participation rate was 68.9%.

Total employment decreased by 1,100 from the previous period to 361,900, due to a drop in the number of non-resident workers living in Macau.

The number of employed residents totaled 282,000, an increase of 1,100. Analysed by industry, employment in gaming and junket activities and the transport and storage sector decreased while that of wholesale trade increased.

The number of the unemployed dropped by 700 from the previous period to 14,000. Among the unemployed searching for a new job, most had previously been engaged in gaming and junket activities and in the construction sector. Meanwhile, the proportion of new labor market entrants seeking their first job fell 3 percentage points to 11.4% of the total unemployed.

The number of the underemployed decreased by 8,200 from the previous period to 16,200, with a notable drop in the number of those engaged in gaming and junket activities. Staff Reporter