This quarterly release analyses the labour market situation. Topics covered include unemployment, employment, retrenchment, re-entry into employment, job vacancy, labour turnover and hours worked.
Key Findings: The labour market improved in the fourth quarter of 2017. Quarter-on-quarter, the unemployment rate for residents and citizens continued to fall, and the ratio of job vacancies to unemployed persons rose. Employment increased in the fourth quarter of 2017, higher than the same period a year ago.
For the year of 2017 as a whole, total employment declined as foreign employment continued to contract, mainly due to a decrease in work permit holders in construction and marine shipyard. Local employment increased, with growth nearly doubled that in 2016. Retrenchments declined for both locals and foreigners. Among residents, the annual average long-term unemployment rate and re-entry rate held steady between 2016 and 2017.
This edition also provides an in-depth analysis on retrenchment and re-entry into employment. As overall retrenchment eased in 2017, it looks at the trends across firm and worker types, and the reasons for retrenchment in 2017 compared to earlier years. It also examines the rate of re-entry based on different demographic and occupational profiles.
For more key findings, please refer to the highlights of the report.
Released on: 15 March 2018
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