Information from the Statistics and Census Service (DSEC) indicated that the general unemployment rate, the unemployment rate of local residents and the underemployment rate for October - December 2023 were 2.3%, 2.9% and 1.4% respectively. All three indicators remained steady compared to the previous period (September - November 2023).
The labour force living in Macao totalled 379,700 and the labour force participation rate was 68.0%. Total employment was 371,100 and the number of employed residents totalled 286,100, down by 900 and 1,700 respectively from the previous period.
Number of the unemployed was 8,600, similar to that in the previous period. Among the unemployed searching for a new job, most of them were previously engaged in Gaming & Junket Activities, Hotels, Restaurants & Similar Activities and Retail Trade. Meanwhile, the proportion of new labour market entrants seeking their first job decreased by 2.1 percentage points to 12.2% of the total unemployed.
Number of the underemployed went down by 200 from the previous period to 5,200, with the majority working in the Construction sector and the Transport & Storage sector.
In the fourth quarter of 2023, the general unemployment rate (2.3%) and the unemployment rate of local residents (2.9%) dropped by 0.1 and 0.2 percentage points respectively from the third quarter. Total employment rose by 1,800 quarter-on-quarter while number of employed residents decreased by 700. Analysed by industry, employment in Hotels, Restaurants & Similar Activities (49,000) and the Education sector (20,900) both increased by 2,100, while employment in Gaming & Junket Activities (67,400) fell by 3,600. Median monthly employment earnings of the employed went down by MOP400 quarter-on-quarter to MOP17,600, while earnings of the employed residents stayed the same at MOP20,000.
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 99,900 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 was 479,600, an increase of 500 from the previous period.
For the whole year of 2023, the general unemployment rate and the unemployment rate of local residents decreased by 1.0 and 1.4 percentage points year-on-year to 2.7% and 3.4% respectively, following the gradual resumption of social and economic activities. Median monthly employment earnings of the employed population and the employed residents were MOP17,500 and MOP20,000 respectively, up by MOP2,500 and MOP1,000 year-on-year.