Unemployment remains stable; concerns remain for fresh graduates

Macau’s unemployment rate has remained stable in the third quarter of this year, according to data from the Statistics and Census Service. However, some scholars are urging the government to introduce measures to better support young graduates entering the job market.

The total unemployment rate and resident unemployment rate have held steady compared to the previous quarter, while the underemployment rate dropped slightly. The average monthly salary for the general employed population increased by 100 patacas to 18,000 patacas, and the average mortgage of employed residents rose by 500 patacas to 20,500 patacas, indicating a relatively stable job market.

Despite this stability, some residents have expressed concerns about the challenges faced by fresh graduates. A TDM report highlighted that graduate salaries have dropped from 15,000-16,000 patacas to around 12,000 patacas, and many are still struggling to find employment. Another resident cited their difficulty in changing jobs and advancing their career.

The Macau Human Resources Association attributes the stable labor market to the recovery of the tourism industry and the implementation of the “concert economy.” The association’s director, Choi Chin Man, has called on the government to continue organizing job fairs and strictly enforce policies on non-resident workers to support local employment.

Academics, such as Ip Kuai Peng, the director of the Research Centre for Macau Social and Economic Development at City University, have also voiced concerns about the employment situation of fresh graduates. Ip proposed that the government implement a better transition mechanism during the final year of internships to help students secure employment after graduation. He also encouraged new job seekers to consider opportunities in the Greater Bay Area. Victoria Chan