TNAG-1267-FCO40-1616-Economic-situation-in-Hong-Kong-1983 — Page 266

4.8

FC040/1616

As the gross domestic product was probably growing at a faster rate in real terms than the employed labour force in the first half of 1983, labour productivity, defined as GDP per person employed, has continued to rise. However, this growth in productivity probably reflected in part the fall in

underemployment, and in part the relative shift in activity in

the economy from manufacturing to tertiary services (where the level of productivity is higher), as indicated by

as indicated by the changes in employment in the various sectors of the economy discussed

below.

Employment by sectors

4.9

Employment statistics available up to March 1983

indicate that the relative shift in the distribution of

employment in favour of the tertiary services sectors

continued. During the twelve months ending March 1983,

employment in the manufacturing and building and construction sectors declined; while employment in the tertiary services

sectors continued to rise, albeit at a less rapid rate than

during 1982.

4.10

Employment in the manufacturing sector, at 848 700

in March 1983, was 4% lower than in March 1982. But it was at

roughly the same level as in December 1982,

in December 1982, indicating that

manufacturing employment has ceased to decline during the

Although the number of vacancies in the first

than a year earlier, it showed a

first quarter.

quarter was 13% less

substantial increase of 62% over the fourth quarter of 1982.

The increase in the

concentrated in the

industries.

number of vacancies was mainly

electronics, plastics and garment

Although statistics on employment in the second

quarter are not yet available, the continued improvement in

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