Rencent principal employment indicators
Information from the Statistics and Census Service (DSEC) indicated that both the general unemployment rate (2.1%) and the unemployment rate of local residents (2.7%) in the first quarter of 2024 decreased by 0.2 percentage points quarter-on-quarter. Meanwhile, the underemployment rate rose slightly by 0.1 percentage point to 1.5%.
The labour force living in Macao totalled 379,100 and the labour force participation rate was 67.6%. Total employment (371,100) held steady quarter-on-quarter, and employed residents (284,000) dropped by 2,100. Analysed by industry, employment in Real Estate & Business Activities (31,700) and the Construction sector (25,900) fell by 2,600 and 2,000 respectively quarter-on-quarter, while that in Gaming & Junket Activities (71,400) and Hotels & Similar Activities (28,800) increased by 4,000 and 1,700 respectively.
Median monthly employment earnings of the employed (MOP18,000) and the employed residents (MOP20,500) in the first quarter increased by MOP400 and MOP500 respectively quarter-on-quarter, as employees in some industries were given double pay and bonuses in the first quarter.
In terms of three consecutive months, both the general unemployment rate (2.1%) and the unemployment rate of local residents (2.7%) for January - March 2024 decreased by 0.1 percentage point from the previous period (December 2023 - February 2024). On the other hand, the underemployment rate (1.5%) increased by 0.2 percentage points. Total employment (371,100) rose by 300 from the previous period, whereas employed residents (284,000) dropped by 300.
Number of the unemployed (8,000) decreased by 200 from the previous period. Among the unemployed searching for a new job, most of them were previously engaged in the Construction sector, Retail Trade and Gaming & Junket Activities. Meanwhile, the proportion of new labour market entrants seeking their first job increased by 0.3 percentage points to 6.7% of the total unemployed.
Number of the underemployed (5,600) grew by 700 from the previous period, with the majority working in the Construction sector and the Transport & Storage sector.
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 100,500 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 (479,700) decreased by 1,400 from the previous period.