ENG-2013 — Page 75

3

The Economy

The Unemployment and Underemployment Rates

Chart 11

Per cent

6

5

<

Seasonally adjusted unemployment rate

3

Underemployment rate

2

1

0

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

2009

2010

2011

F

2012 |

2013

The unemployment rate remained low throughout 2013, signifying another year of full employment. There was employment growth in almost all sectors, with more apparent job gains in construction and some domestically-oriented services sectors, such as warehousing and support activities for transportation, professional and business services, and accommodation services. There was an expansion of 1.8 per cent in total employment in 2013, after a 2.4 per cent increase in 2012. On the supply side, the labour force expanded by 1.9 per cent in 2013, following a growth of 2.2 per cent in 2012. The abundant job opportunities stemming from sturdy labour demand, as well as better income prospects due in part to the upward adjustment of the Statutory Minimum Wage in May, caused more people to enter the labour market, especially women and persons aged 15-24 and 50-59 (Chart 12).

Chart 12

Total Labour Force and Total Employment

Per cent

5

4

3

2

0

(year-on-year rate of change)

Total

Total

employment

labour force

-2

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

2009

I

2010

2011

2012

Both employment and the labour force grew further in 2013.

2013

47

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