Unemployed residents at 12,800
Macau’s total employment figure stood at 364,800 and the number of employed residents totaled 275,900, down by 5,600 and 2,900 respectively from the previous period ((February-April 2022).
Recent statistics produced by the Statistics and Census Service (DSEC) showed that, analyzed by industry, employment in hotels, restaurants and similar establishments decreased while employment in gaming and junket activities increased.
The number of residents unemployed decreased by 500 from the previous period to 12,800. Most of those unemployed and searching for a new job were previously engaged in gaming and junket activities and in the construction sector.
The figure is expected to increase following reports in local media that the Million Dragon Hotel had allegedly started to dismiss employees due to “unforeseeable business prospects” last month.
A letter to employees designated June 26 as their final day of work, the same date that the six gambling concessions were originally intended to end.
The number of those underemployed grew by 1,100 from the previous period to 12,700, with the majority again working in gaming and junket activities and the construction sector.
Meanwhile, the proportion of new labor market entrants seeking their first job increased by 0.4 percentage points to 6.6% of the total unemployed.
In comparison with March-May 2021, the unemployment rate rose by 0.4 percentage points, while the underemployment rate and the labor force participation rate dropped by 0.8 and 0.6 percentage points respectively.
Both the general unemployment rate (3.4%) and the unemployment rate of local residents (4.4%) for March-May 2022 decreased by 0.1 percentage point from the previous period (February-April 2022).
Meanwhile, the underemployment rate increased by 0.4 percentage points to 3.4%. The labor force living in Macau totaled 377,600 and the labor force participation rate was 68.3%. LV
