Unemployment drops to 1.7%

The Statistics and Census Service has released the latest data regarding the city’s unemployment rate, which stands at 1.7%. The data pertains to the period between March and May this year.

An annual decrease in employment for this three-month period has been recorded two years in a row.

The unemployment rate during the current period is identical to that of the previous period, between February and April.

Overall, the labor force participation rate was 70.4%, comprised of a 74.7% male participation rate and 66.8% female participation rate. Approximately 0.4% of the total working population was underemployed during the period. The total labor force of the city was 394,100, of which 387,200 were employed.

Considering local residents only, 2.4% were unemployed, with a 64% labor force participation rate.

The gaming industry, including junket services, has maintained its status as the largest employer in Macau. The industry employed 86,100 of the city’s labor force during the period concerned.

The wholesale and retail trade industry is the second-largest employer, with 40,400 people on the payroll. According to the latest data, 32,300 people work in the hotel industry.

In addition, 7.6% of the city’s labor force work in the public administration and social security sector. Staff reporter

Categories Macau