TNAG-2977-FCO40-1469-Economic-policy-in-Hong-Kong-1982 — Page 137

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4.7

indicates

Although in the first half of 1982 the gross domestic

product was probably growing at a slower rate than in 1981,

the fact that the employed labour force did not increase

that labour productivity, defined as G.D.P. per

person employed, has continued to increase. However, as

indicated by the changes in employment in the varius sectors

of the economy discussed below, the growth in productivity

probably reflected in part the relative shift in activity in the economy from manufacturing to tertiary services.

Employment by sectors

4.8

But

Consistent with the performance of domestic exports,

there was no net increase in employment in the manufacturing

sector during the twelve months ending March 1982.

employment in the tertiary services sectors continued to grow.

There was thus a further relative shift in the distribution of

employment in favour of the tertiary services sectors.

4.9

In March 1982, employment in the manufacturing sector

at 886 100 was 2% lower than in December 1981. Although this

decline reflected in part seasonal factors, the major reason

was the reduction in export orders. At 44 100, or 5% of

employment, the number of vacancies in March 1982 was the

lowest since 1977. The decrease in employment was mainly in the electronics, electrical products and textiles industries.

4.10

In

March 1982, employment on building and construction sites, at 86 500, was 4% lower than in March 1981

and 3% lower than in December 1981. The decline was mainly in

respect of building (in both the private and public sectors)

which still accounted for as much as 80%

much as 80% of employment on all

building and construction

sites. Employment on civil

engineering sites was however 21% higher than in March 1981.

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/ 4.11 Within