Unemployment rate holds stable up until January

The unemployment rate in Macau remained stable for the three months between November 2019 and January 2020, the government’s Statistics and Census Service announced.

Overall unemployment rate during the period was 1.7%, which equates to 6,800 people. As far as the resident workforce is concerned, the unemployment rate stood at 2.3%. The rates did not fluctuate when compared with those covering the period from October to December 2019.

The total workforce in Macau during the concerned period was approximately 390,000 people, nearly 285,000 of which were Macau residents. People looking for their first job made up about 14% of the unemployed population.

Analysts warn that the employment situation for the first quarter of 2020 will likely deteriorate because of the Covid-19 outbreak.

A report by local Chinese media Exmoo cited representatives from local chambers of commerce and trade unions discussing their difficulties during this period. Lawmaker Ella Lei, who is also deputy director-general of the Federation of Trade Unions, has said that some small and medium sized enterprises have started laying off employees.

Representatives from the business sector have said that despite the pressure, many employers are trying to avoid layoffs.  AL