TNAG-2977-FCO40-1469-Economic-policy-in-Hong-Kong-1982 — Page 134

CHAPTER 4 : THE LABOUR SECTOR

General developments

4.1

Influenced by the lack of growth in domestic exports

and a slowing down in the growth rate of consumer demand, the

unemployment rate on a seasonally adjusted basis, which had

been decreasing throughout 1981, increased slightly in the first half of this year. In the manufacturing sector, there

was some improvement in manufacturing wage rates in real terms, as the rate of inflation was slowing down more rapidly than the rate of increase of money wage rates. Employment in the tertiary services sectors continued to grow, and salaries

in these sectors continued to increase.

Unemployment

4.2

The seasonally adjusted unemployment rate fell during 1981, from 4.1% in March to 3.6% in September and subsequently

to 3.1% in December. However, as a result of a general decline in the growth rates of consumer demand and of export demand, the unemployment rate increased again during the first

quarter of 1982(1) In March 1982, an estimated 3.5% of the

labour force or 88 000 persons were unemployed, compared with

(1) Seasonally adjusted unemployment rate :

/ 3.1%

Seasonally adjusted

unemployment rate (%)

.....

Number of

persons unemployed

72 600

1980

Mar

Sep

1981

Mar

Sep

Dec

1982

Mar

3.2

3.8

89 900

4.1

100 700

3.6

89 800

3.1

78 000

3.5

88 000

Starting from September 1981, the half-yearly labour force surveys have been replaced by a series of monthly general household surveys. The estimate for March 1981 was derived from the

the 1981 Population Census. All estimates are based on the definitions of the labour force survey.

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