XN000022-1992-04-15 — Page 6

WEDNESDAY, APRIL 15, 1992

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EMPLOYMENT, VACANCIES AND PAYROLL STATISTICS FOR DECEMBER RELEASED

* 1

IN DECEMBER LAST YEAR, THERE WAS CONTINUED STRONG GROWTH IN EMPLOYMENT IN THE WHOLESALE, RETAIL AND IMPORT/EXPORT TRADES, RESTAURANTS AND HOTELS, AND IN FINANCING, INSURANCE, REAL ESTATE AND BUSINESS SERVICES SECTORS OVER A YEAR EARLIER, ACCORDING TO STATISTICS RELEASED TODAY (WEDNESDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.

HOWEVER, EMPLOYMENT IN THE

MANUFACTURING SECTOR AND

ON

CONSTRUCTION SITES DECLINED MARKEDLY.

THE

THE FALL IN MANUFACTURING EMPLOYMENT MAINLY REFLECTED CONTINUING STRUCTURAL CHANGE IN THE ECONOMY, IN CONNECTION WITH THE RELOCATION OF INDUSTRIAL PROCESSES TO CHINA, AS WELL AS THE OCCUPATIONAL UPGRADING OF THE LOCAL MANUFACTURING WORKFORCE IN RECENT

YEARS.

OVERALL, EMPLOYMENT IN ALL THE MAJOR SECTORS SURVEYED TAKEN TOGETHER SHOWED A MARGINAL DECREASE IN DECEMBER 1991 COMPARED WITH DECEMBER 1990.

THE TOTAL NUMBER OF VACANCIES IN ALL MAJOR SECTORS CONTINUED TO INCREASE, ALBEIT SLOWLY, DURING THE FOURTH QUARTER.

IN DECEMBER 1991, THE NUMBER OF VACANCIES WAS SLIGHTLY LARGER THAN IN SEPTEMBER, THOUGH STILL SMALLER THAN IN DECEMBER 1990.

IN DECEMBER 1991, EARNINGS IN ALL MAJOR SECTORS CONTINUED TO SHOW SIGNIFICANT INCREASES IN MONEY TERMS OVER A YEAR EARLIER.

AFTER ADJUSTING FOR INFLATION, THERE WAS STILL AN APPRECIABLE IMPROVEMENT IN REAL TERMS FOR AVERAGE EARNINGS IN MOST SECTORS.

THERE WERE 629,200 PERSONS ENGAGED IN THE MANUFACTURING SECTOR IN DECEMBER 1991, REPRESENTING A DECREASE OF 12.1% FROM DECEMBER 1990.

EMPLOYMENT IN THE WHOLESALE, RETAIL AND IMPORT/EXPORT TRADES, RESTAURANTS AND HOTELS SECTOR, AT 871,900 IN DECEMBER 1991, WAS 5.1% HIGHER THAN IN DECEMBER 1990.

EMPLOYMENT IN THE FINANCING, INSURANCE, REAL ESTATE AND BUSINESS SERVICES SECTOR, AT 295,900, WAS UP BY 7.0%.

EMPLOYMENT ON CONSTRUCTION SITES, AT 59,300, WAS 14.2% LOWER THAN IN DECEMBER 1990.

MAJOR

THE EMPLOYMENT FIGURES FOR DECEMBER 1991 IN SELECTED ECONOMIC SECTORS, COMPARING WITH THE CORRESPONDING FIGURES FOR DECEMBER 1990 AND SEPTEMBER 1991, ARE AS FOLLOWS:

/PERSONS ENGAGED