Unemployment rate drops slightly as 600 find jobs, 12,200 still waiting

In the three months from December 2022 to February, the unemployment rate registered a slight decrease, the Statistics and Census Service (DSEC) has noted in a press statement.

According to the statement, the general unemployment rate dropped 0.1% to 3.3% at the end of February, while the unemployment rate of local residents dipped 0.2% to 4.1% when compared with the previous three-month period (November 2022 – January).

The number of unemployed people dropped by 600 from the previous period to 12,200.

Most of the unemploye d searching for a new job were previously engaged in gaming and junket activities and the construction sector.

Meanwhile, the proportion of new labor market entrants seeking their first job decreased 1.5% to 9.3% of all the unemployed.

Dropping more than the unemployment rate was the underemployment rate, which, according to DSEC, dropped 0.5% to 2.7% in the same period.

The total number of underemployed people in Macau fell by 2,000 from the previous period to 9,900, with a notable drop in the number of those engaged in gaming and junket activities.

At the end of February, the labor force living in Macau was 372,100 people, with a labor force participation rate of 68.3%. This figure also dropped 1,100 from the previous period to 359,900 due to a drop in the number of non-resident workers.

There were 282,200 employed residents, an increase of 200.

The unemployment rate decrease was mostly due to the creation of new jobs in the education sector, the DSEC said, noting that at the same time, the wholesale trade and gaming and junket activities continue to lose some of the workforce.

The employment survey covered all residential units in the Peninsula, Taipa, and Coloane, excluding collective living quarters such as dormitories and care homes for the elderly.

Non-resident workers working in Macau but living outside the territory were also excluded from the survey.

According to preliminary estimates from the movement records, an average of about 84,600 Macau residents and non-resident workers worked in Macau but lived outside the territory during the reference period; when including these individuals, the total labor force rises to 456,800, a decrease of 600 from the previous period. RM