Financial News
Written by: Kuang Yueting
2020-05-19 16:42
Date of last update: 2020-05-19 16:43The Census and Statistics Department announced that the seasonally adjusted unemployment rate rose from 4.2% in January-March 2020 to 5.2% in February-April 2020, the highest level in more than 10 years. The underemployment rate rose from 2.1% to 3.1%, the highest level in more than 15 years.
Unemployment rate combined with consumer and travel related industries (ie retail, accommodation and food service industry) has soared to 9%, the highest level in more than 15 years; the unemployment rate and underemployment rate of catering service activity industry have soared to 12% respectively And 8.4%. The situation in the construction industry is equally severe, with unemployment and underemployment rates rising to 10% and 8% respectively.
Unemployment rose to 202,000
The total number of employed people fell from 3.72 million to 3.574 million, a decrease of approximately 62,600 people; the total labor force decreased from 3,882,200 to 3,898,900, a decrease of approximately 22,400 people; An increase of 40,300; the number of underemployed rose from 82,800 to 118,600, an increase of about 35,800.
The Secretary for Labour and Welfare, Luo Zhiguang, said that the New Coronary Pneumonia epidemic continues to widely affect economic activities, and the labor market will continue to face tremendous pressure in the short term. The government will pay close attention to the relevant measures for employment and job creation measures.
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