The unemployment rate approached the level in the same period in 2019
Information from the Statistics and Census Service (DSEC) indicated that both the general unemployment rate (1.9%) and the unemployment rate of local residents (2.5%) for March - May 2024 held steady from the previous period (February - April 2024) after falling for two consecutive periods. Both indicators approached their corresponding levels in the same period in 2019. In addition, the underemployment rate remained unchanged at 1.4%.
Employment in Hotels, Restaurants & Similar Activities continued to increase
The labour force living in Macao totalled 379,300 and the labour force participation rate was 67.4%. Total employment (372,100) and the number of employed residents (283,600) dropped by 200 and 800 respectively from the previous period. Analysed by industry, employment in Financial Activities and the Construction sector decreased. On the other hand, employment in Hotels, Restaurants & Similar Activities increased further, owing to a continued rise in the number of visitors.
Number of unemployed declined for five consecutive periods
Number of the unemployed (7,200) decreased by 200 from the previous period, marking the fifth consecutive periods of decline. The number of unemployed persons aged 55 and above showed a relatively large fall, and the number of those with tertiary education declined for seven consecutive periods. Among the unemployed searching for a new job, most of them were previously engaged in Gaming & Junket Activities, Retail Trade and the Construction sector. Meanwhile, the proportion of new labour market entrants seeking their first job increased by 0.2 percentage points to 6.2% of the total unemployed.
Underemployment decreased further
Number of the underemployed (5,200) fell by 200 from the previous period, with the majority working in the Construction sector and the Transport & Storage sector.
In comparison with March - May 2023, the labour force participation rate, the unemployment rate and the underemployment rate decreased by 0.1, 0.9 and 0.4 percentage points respectively.
The Employment Survey covers all residential units in the Macao Peninsula, Taipa and Coloane, excluding collective living quarters such as dormitories and care homes for the elderly. Individuals living in these units are included in the survey, and therefore Macao residents and non-resident workers who work in Macao but live outside the territory are excluded. According to the preliminary estimates from the movement records, an average of about 102,900 Macao residents and non-resident workers worked in Macao but lived outside the territory during the reference period; when including these individuals, total labour force (482,200) was similar to that in the previous period.
