Unemployment rate holds at 2.4% in July

[Photo: Renato Marques]

The unemployment rate among local residents in the three months ending in July remained stable at 2.4% compared with the three months ending in June, the Statistics and Census Service (DSEC) said.

According to DSEC, its employment survey for May to July also showed a slight decline in the underemployment rate, which edged down by 0.1%.

At the end of July, about 7,100 residents were unemployed. Most of those searching for a new job were previously employed in the gaming and retail trade sectors.

Additionally, the share of new labor market entrants seeking their first job fell by 0.5 percentage points to 12.2% of unemployed residents.

Among the 6,400 underemployed residents, most worked in business support activities, construction and retail trade.

During the same period, the general unemployment rate and general underemployment rate also followed a similar trend as the rates among local residents, with the unemployment rate at 1.9% and the underemployment rate edging down by 0.1 percentage point to 1.7%.

DSEC noted that the methodology and statistical concepts for the Employment Survey, including the definitions of unemployment and underemployment, are based on the recommendations of the International Labor Organization.

The Employment Survey covered all residential units in the Macau Peninsula and Islands, excluding collective living quarters such as dormitories and elderly care homes.

The survey also excludes nonresident workers who work in but live outside Macau.

According to preliminary estimates from movement records, an average of about 112,000 local residents and nonresident workers worked in Macau but lived outside the territory during this period.

The total labor force, consisting of these individuals and those living in Macau – 383,800 people – increased by 700 from the previous period to 495,800.