Macau: Unemployment stable at 2.9 percent in fourth quarter of 2007

29 January 2008

Macau, China, 29 Jan – Macau’s unemployment rate in the fourth quarter of 2007 was unchanged at 2.9 percent of an active population estimated to total 323,000, the region’s Statistics and Census Bureau said Monday.

According to the official figures, amongst the active population, 313,000 people were employed and 9,500 people were unemployed and of these 13.9 percent, or 1,320 people were looking for their first job.

The rate of activity was calculated at 70.5 percent, which was a rise of 0.2 and 3.6 percentage points, respectively, against the third quarter of 2007 and the fourth quarter of 2006.

The 2.9 percent unemployment rate remained unchanged against the third quarter of 2007 and represented a year on year rise of 0.6 percentage points.

The rate of underemployment, estimated at 1.3 percent, rose by 0.1 and 0.5 percentage points as compared with the third quarter of 2007 and the year on year period, respectively.

Macau’s population is estimated to total 531,000 people. (macauhub)