Chart 9
M
The Economy
The Unemployment and Underemployment Rates
Per cent
5
3
Seasonally adjusted unemployment rate
2
Underemployment rate
1
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2010
2011
|
2012
2013
2014
The unemployment rate stayed low throughout 2014, signifying another year of full employment.
The labour force expanded only modestly by 0.5 per cent for 2014 as a whole, after recording visible growth for three consecutive years. Though constrained by labour supply, total employment grew at a slightly faster pace of 0.6 per cent (Chart 10). Employment growth was almost across the board, with more visible job gains in construction sites (covering manual workers only) as well as social and personal services sectors.
Chart 10
Total Labour Force and Total Employment (year-on-year rate of change)
Per cent
5
4
3
Total employment
2
Total labour force
1
0
-1
-2
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2010
2013 I 2014
I
1
2011
2012
Total employment and the labour force grew further in 2014, with the former slightly outpacing the latter.
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