Macao's unemployment rate drops to 3.9 pct in August-October

2022-11-25 20:17:54Xinhua Editor : Liu Yimeng ECNS App Download

Macao's general unemployment rate for the period from August to October decreased by 0.1 percentage point to 3.9 percent from the July-September period, the special administrative region (SAR)'s statistics department said on Friday.

The latest report from Macao's Statistics and Census Service (DSEC) said that the unemployment rate for local residents was 5.0 percent for the August-October period, down 0.2 percentage point from the July-September period, marking a drop for two consecutive periods.

The underemployment rate plunged by 10.0 percentage points to 6.5 percent, while the labor force participation rate was 68.9 percent, the report added.

The labor force living in Macao totaled 377,700 people for the period from August to October this year. Total employment held steady from the previous period at 363,000, while the number of employed residents rose by 900 to 280,900.

The number of unemployed dropped by 500 from the previous period to 14,700.

Meanwhile, the proportion of people seeking their first job increased by 1.3 percentage points to 14.4 percent of the total unemployed.

The number of the underemployed decreased by 38,100 from the July-September period to 24,400.

In comparison with the period from August to October 2021, the underemployment rate, the unemployment rate and the labor force participation rate increased by 2.0, 1.1 and 0.3 percentage points respectively.


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