Unemployment rate returned to the level in the 2nd Quarter of 2019
Information from the Statistics and Census Service (DSEC) indicated that both the general unemployment rate (1.7%) and the unemployment rate of local residents (2.3%) dropped by 0.4 percentage points quarter-on-quarter in the second quarter of 2024, returning to the corresponding levels in the same quarter of 2019. Meanwhile, the underemployment rate (1.5%) remained unchanged.
Number of the unemployed declined for six consecutive periods
In comparison with March - May 2024, both the general unemployment rate (1.7%) and the unemployment rate of local residents (2.3%) for April - June 2024 decreased by 0.2 percentage points from the previous period. On the other hand, the underemployment rate (1.5%) edged up by 0.1 percentage point. The labour force living in Macao totalled 383,000; total employment (376,400) and the number of employed residents (287,000) increased by 4,300 and 3,400 respectively. Number of the unemployed (6,600) decreased by 600, marking the sixth consecutive periods of decline and remaining similar to the same period in 2019. Among the unemployed searching for a new job, most of them were previously engaged in the Gaming sector and Retail Trade. Meanwhile, the proportion of new labour market entrants seeking their first job rose by 1.8 percentage points to 8.0% of the total unemployed.
Non-gaming industries drove up the growth in employment
In the second quarter of 2024, total employment (376,400) and the number of employed residents (287,000) increased by 5,300 and 3,000 respectively quarter-on-quarter, underpinned by non-gaming industries. Employment in Hotels & Similar Activities (51,000) and Wholesale & Retail Trade (46,600) grew by 1,600 and 1,400 respectively, while that in Real Estate & Business Activities (30,100) and the Gaming sector (70,300) decreased by 1,600 and 1,100 respectively.
Median monthly employment earnings of the employed (MOP17,900) and the employed residents (MOP20,000) went down by MOP100 and MOP500 respectively quarter-on-quarter in the second quarter, as employees in some industries were given double pay and bonuses in the first quarter which led to a relatively high base of comparison.
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 103,100 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 (486,100) increased by 3,900 from the previous period (March - May 2024).
