XN000022-1974-12-07 — Page 2

SATURDAY, DECEMBER 7, 1974

INDUSTRIAL EMPLOYMENT FOR THIRD QUARTER OF 1974

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THE NUMBER OF PEOPLE EMPLOYED IN ALL INDUSTRIAL UNDERTAKINGS REGISTERED AND RECORDED WITH THE LABOUR DEPARTMENT AT THE END OF THE THIRD QUARTER WAS 576,271.

THIS REPRESENTS A DROP OF SOME 23,062 OR 3.8 PER CENT COMPARED WITH THE FIGURE FOR THE PREVIOUS QUARTER.

A GOVERNMENT SPOKESMAN SAID THAT TAKING THE FIRST NINE MONTHS OF THE YEAR TO THE END OF SEPTEMBER, THERE HAD BEEN A DECREASE OF 50,959 OR ABOUT 8 PER CENT IN EMPLOYMENT IN REGISTERED INDUSTRIAL UNDERTAKINGS.

HOWEVER, THE SPOKESMAN SAID THAT THIS HAD TO BE SEEN AGAINST THE BACKGROUND OF THE INDUSTRIAL SECTOR EMPLOYMENT ATATISTICS AT THE END OF LAST YEAR WHICH WERE AT THEIR HIGHEST LEVEL ON RECORD.

HE EMPHASISED THAT THE EMPLOYMENT FIGURES RELATED TO REGISTERED OR RECORDED INDUSTRIAL UNDERTAKINGS ONLY, AND THEY WERE NOT NECESSARILY INDICATIVE OF THE EMPLOYMENT SITUATION FOR THE ECONOMY AS A WHOLE, AS THERE ARE INDICATIONS THAT A NUMBER OF THESE WORKERS HAVE BEEN ABSORBED ELSEWHERE IN THE ECONOMY.

THE LATEST STATISTICS, WHICH ARE THE RESULT OF A SURVEY CONDUCTED BY THE CENSUS AND STATISTICS DEPARTMENT SHOW THAT EMPLOYMENT DECLINED IN ALL MAJOR INDUSTRIAL SECTORS. THE MAIN DECREASES WERE WEARING APPAREL INCLUDING GARMENTS AND KNIT-WEAR (-5,515)- PLASTIC PRODUCTS (-5,296)- ELECTRONIC PRODUCTS (-4,283)- AND TEXTILES (-4,691).

THE LARGEST FIVE INDUSTRIES IN TERMS OF EMPLOYMENT REMAINED THE MANUFACTURE OF WEARING APPAREL 157,467- TEXTILES 90,249- ELECTRICAL MACHINERY, APPLIANCES AND SUPPLIES 65,218- PLASTIC PRODUCTS 55,699- AND FABRICATED METAL PRODUCTS 48,057.

EMPLOYMENT IN REGISTERED UNDERTAKINGS WHICH ARE NOT IN THE MANUFACTURING SECTOR INCREASED BY 359 TO 44,349.

COMMENTING ON THE OVERALL FIGURES, THE SPOKESMAN SAID THAT THE CONTINUING DECLINE IN THE THIRD QUARTER REFLECTED THE SLOWING DOWN OF WORLD TRADE GENERALLY AS A RESULT OF THE OIL CRISIS,

THIS SLOWING DOWN CAN BE SEEN IN THE TRADING FIGURES FOR THE FIRST NINE MONTHS OF THE YEAR WHICH SHOW THAT DOMESTIC EXPORTS IN QUANTITY TERMS ARE DOWN BY ABOUT 1-1/2 PER CENT ON THE LEVEL FOR THE CORRESPONDING PERIOD LAST YEAR.

HOWEVER, TAKING THE YEAR AS A WHOLE, THERE ARE INDICATIONS THAT OUR TRADING FIGURES WILL BE ABOUT THE SAME AS LAST YEAR. THIS, THE SPOKESMAN SAID, WILL BE QUITE AN ACHIEVEMENT TAKING INTO CONSIDERATION THE RATHER UNCERTAIN TRADING ENVIRONMENT EXISTING AT PRESENT, AND THE FACT THAT 1973 WAS A RECORD YEAR FOR WORLD TRADE AND ONE OF HONG KONG'S BEST TRADING YEARS EVER.

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