Macao’s unemployment rate further drops in December-February

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Xinhua News

24th March 2023 – (Macao) Macao’s general unemployment rate for the period from December 2022 to February 2023 decreased by 0.1 percentage points to 3.3 percent from the November 2022 to January 2023 period, the special administrative region’s (SAR) statistics department said on Friday.

The latest report from Macao’s Statistics and Census Service said the unemployment rate for local residents was 4.1 percent for the December-February period, down 0.2 percentage points from the November-January period, showed the report.

The underemployment rate dropped further by 0.5 percentage points to 2.7 percent, while the labor force participation rate was 68.3 percent.

The labor force living in Macao totaled 372,100 people for the period from December to February. Total employment fell by 1,100 from the previous period to 359,900. The number of employed residents totaled 282,200, an increase of 200.

The number of unemployed dropped by 600 from the previous period to 12,200.

Meanwhile, the proportion of people seeking their first job decreased 1.5 percentage points to 9.3 percent of the total unemployed.

The number of the underemployed went down by 2,000 from the previous period to 9,900.