Chart 9
5
+
3
2
3
The Economy
The Unemployment and Underemployment Rates
Per cent
Seasonally adjusted unemployment rate
Underemployment rate
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2012 I 2013
2011
I
2014
2015
The seasonally adjusted unemployment rate hovered at a low level of 3.2- 3.3 per cent during the year, signifying another year of full employment.
Total employment and the labour force expanded moderately by 0.8 per cent and 0.9 per cent in 2015 respectively (chart 10). However, data collected from private-sector establishments pointed to weaker labour demand, particularly in the trade and tourism-related sectors. In 2015, private-sector employment in the import/export trade and wholesale, accommodation services, and retail industries declined amid the lacklustre external trade and sustained weakness in inbound tourism.
Chart 10
Per cent
5
3
Total Labour Force and Total Employment (year-on-year rate of change)
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
2011
2015
2012
2013
2014
Total employment and the labour force grew moderately in 2015.
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