​​​Report: Labour Market Advance Release 2017

This release provides preliminary estimates of key indicators on the manpower situation covering unemployment, employment and retrenchment for the latest quarter.

Key findings: The labour market continued to improve in the fourth quarter of 2017. Unemployment rates declined in December 2017, lower than the previous quarter and a year ago. Retrenchments in 4Q 2017 remained at similar level as 3Q 2017, but was lower than that the year before. As a result, total retrenchments in 2017 were significantly lower than in 2016. In 2017, total employment declined for the first time since 2003, largely due to a continued decrease in work permit holders in construction and marine. However, local employment continued to grow, recording nearly double the growth in 2016.

For more key findings, please refer to the highlights of the report.