Unemployment rate remained low
Information from the Statistics and Census Service (DSEC) indicated that the general unemployment rate and the unemployment rate of local residents for May - July 2024 remained at low levels of 1.7% and 2.3% respectively. Both indicators stayed the same as in the previous period (April - June 2024). Meanwhile, the underemployment rate dropped by 0.2 percentage points to 1.3%.
The labour force living in Macao (383,100) and total employment (376,400) held steady from the previous period, while the number of employed residents (286,300) fell by 700. Analysed by industry, employment in Health & Social Welfare and the Gaming sector increased, while that in Wholesale & Retail Trade decreased.
With fresh graduates entering the labour market, number of the unemployed increased by 100 from the previous period to 6,700; however, the figure represented a drop of 300 compared to the same period in 2019. The proportion of new labour market entrants seeking their first job rose slightly by 1.9 percentage points from the previous period to 9.9% of the total unemployed, while the number of unemployed individuals with tertiary education also registered growth. Among the unemployed searching for a new job, most of them were previously engaged in the Gaming sector and Retail Trade.
Underemployment situation improved
Number of the underemployed (4,800) fell by 900 from the previous period, with those working in the Transport & Storage sector, Restaurants & Similar Activities and the Gaming sector recording notable decreases.
In comparison with May - July 2023, the labour force participation rate (67.8%) rose by 0.2 percentage points, while the unemployment rate (1.7%) and the underemployment rate (1.3%) dropped by 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 103,000 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) held steady from the previous period.
