Unemployment rate steady at 1.7 pct

Macau’s unemployment rate stood at 1.7 percent between October and December last year, according to the Statistics and Census Service (DSEC).
The number of unemployed people reached 7,000, an increase of 100 compared to September-November last year. First job seekers accounted for 15.2 percent of the total unemployed; a decrease of 5.1 percent.
DSEC’s employment survey for October-December last year revealed that the underemployment rate stood at 0.4 percent.
The total labor force increased to 405,500 and the labor force participation rate stood at 74.4 percent. Total employment reached 398,600, representing an increase of 2,400 over September-November 2014.
Over last year’s fourth quarter, the general unemployment rate remained steady at 1.7 percent, as in the previous quarter; while the unemployment rate of local residents (2.4 percent) edged up 0.1 percent. Total employment increased by 6,500 quarter-to-quarter. Analyzed by industry, employment in gaming (87,000) increased by 5,500. Median monthly employment earnings of the employed (MOP14,000) and employed residents (MOP16,000) rose by MOP1,000 and MOP400 respectively quarter-to-quarter.
DSEC said that for the whole of 2014, the general unemployment rate stood at 1.7 percent and the unemployment rate of local residents was set at 2.3 percent, both down by 0.1 percent year-on-
year. The median monthly employment earnings of the employed amounted to MOP13,000, up by 10.8 percent year-on-year.  CP