Unemployment rate returns to pre-pandemic levels

The latest employment survey from the Statistics and Census Service (DSEC) reveals the unemployment rate has dropped to levels not seen since the second quarter of 2019.

The general unemployment rate now stands at 1.7%, while the rate for local residents is at 2.3%, both reflecting a decrease of 0.4 percentage points from the previous quarter.

The number of unemployed individuals has declined for six consecutive periods, with 6,600 people currently seeking work, representing a reduction of 600 from the previous period.

This trend indicates a recovering job market, particularly in non-gaming sectors.

Total employment in Macau reached 376,400, with notable increases in the hotel and retail industries.

“Employment in Hotels and Similar Activities grew by 1,600, while Wholesale and Retail Trade saw an increase of 1,400 jobs,” the report noted. However, the gaming sector experienced a slight decline, with 70,300 employed, down by 1,100.

Despite the positive employment trends, median monthly earnings for employed residents fell by MOP500 to MOP20,000, attributed to high bonuses paid in the previous quarter.

The employment survey encompasses all residential units in Macau, excluding collective living quarters.

The total labor force, including non-resident workers, has increased to 486,100, reflecting the region’s economic recovery. Nadia Shaw