T general unemployment rate in Macau from May to July 2024 remains low at 1.7%, with the unemployment rate for local residents at 2.3%, according to the latest data from the Statistics and Census Service (DSEC).
Both figures have remained unchanged from the previous period (April to June 2024). Additionally, the underemployment rate saw a slight improvement, dropping by 0.2 percentage points to 1.3%.
The total labor force in Macau stands at 383,100, with total employment steady at 376,400. However, the number of employed residents decreased by 700, totaling 286,300. Employment in the Health and Social Welfare sectors, as well as the Gaming industry, increased, while the Wholesale and Retail Trade sector experienced a decline.
Despite the influx of fresh graduates into the job market, the number of unemployed individuals rose by 100 to 6,700. This figure is, however, 300 lower than the same period in 2019. The proportion of new entrants seeking their first job increased to 9.9% of the total unemployed. Among those seeking new employment, many were previously engaged in the Gaming and Retail sectors.
The underemployment situation also improved, with the number of underemployed individuals falling by 900 to 4,800. The Transport and Storage sector, Restaurants, and Gaming saw notable decreases in underemployment.
Compared to May to July 2023, the labor force participation rate rose to 67.8%, while both the unemployment rate and underemployment rate saw declines. LV
