Macau unemployment rate rose to 5.4% owing to junket closure and suspension of most industrial and commercial activities during the “relatively static” period amid the latest wave of the pandemic.
Information from the Statistics and Census Service (DSEC) indicated that the general unemployment rate and the unemployment rate of local residents for May-July 2022 rose by 0.4 and 0.6 percentage points from the previous period (April-June 2022) to 4.1% and 5.4% respectively, owing to the suspension of most industrial and commercial activities during the “relatively static” period amid the latest wave of the pandemic.
Besides, the underemployment rate increased by 9.3 percentage points to 13.4%.
The labour force living in Macau totaled 377,000, and the labour force participation rate was 68.2%. Total employment was 361,300, and the number of employed residents totalled 274,000, down by 2,900 and 1,500 respectively from the previous period.
Analyzed by industry, employment in Hotels, Restaurants & Similar Activities and Gaming & Junket Activities decreased.
The number of unemployed increased by 1,700 from the previous period to 15,600. Among the unemployed searching for a new job, most of them were previously engaged in Gaming & Junket Activities and in the Construction sector.
Meanwhile, with fresh graduates entering the labor market, the proportion of new labor market entrants seeking their first job increased by 1.7 percentage points to 8.7% of the total unemployed.
The number of the underemployed surged by 34,900 from the previous period to 50,600, with the majority working in Gaming & Junket Activities, Hotels, Restaurants & Similar Activities, and Retail Trade.
In comparison with May-July 2021, the underemployment rate, the unemployment rate, and the labor force participation rate increased by 9.9, 1.2, and 0.3 percentage points respectively.