TNAG-1267-FCO40-1616-Economic-situation-in-Hong-Kong-1983 — Page 262

CHAPTER 4: THE LABOUR SECTOR

General developments

4.1

domestic

export

During the first half of 1983,

performance strengthened (paragraph 2.1), and there were increasing indications of a revival in manufacturing activity (paragraphs 5.1 and 5.3). The underlying economic situation

has obviously been improving, particularly in the second quarter. Reflecting this, both the unemployment rate and the

underemployment rate fell in the second quarter of this year.

4.2

Comparing March 1983 with March 1982, employment in

the manufacturing sector and on building and

construction

sites declined, while employment in the tertiary services

sectors continued to increase. Nevertheless, manufacturing

employment remained stable during the first quarter of this

year, and there are signs of an increase during the second

quarter (paragraph 4.10).

4.3

Although manufacturing wage rates and construction

wage rates increased in money terms during the twelve months

ending March 1983, they decreased in real terms (paragraphs 4.14 and 4.16). Salaries in the tertiary services sectors, in

terms of payroll per person engaged, rose in both money terms

and real terms over the same period (paragraph 4.15).

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/Unemployment

;