ENG-2018 — Page 82

Chart 9

0

Per cent

4

3

The Economy

Total Labour Force and Total Employment (year-on-year rate of change)

Total employment

Total labour force

-2

2015

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

2014

2016

I

Q2 Q3 Q4 Q1 Q2 Q3 Q4

2017

2018

Total employment expanded at a slightly faster pace in 2018.

In 2018, the number of private-sector vacancies increased 9.6 per cent to 78,150, echoing the further tightening in manpower during the year.

Analysed by economic sector, most of the sectors saw more vacancies, with visible increases observed in arts, entertainment and recreation, human health services, transportation, storage, postal and courier services, and accommodation services. Upon the completion of some major infrastructural projects, construction sites (covering manual workers only) recorded fewer vacancies. As a combined result of gains in vacancies and falling unemployment, the ratio of job vacancies per 100 job-seekers increased markedly from 58 in 2017 to 70 in 2018.

Amid tight labour market conditions, wages and earnings recorded solid growth in both nominal and real terms. Labour earnings in the private sector went up by 3.9 per cent for 2018 as a whole, translating into real growth of 1.5 per cent after discounting inflation. Appreciable increases were seen in accommodation and food services, professional and business services, real estate, and social and personal services.

Separately, the General Household Survey, though not strictly comparable to surveys on businesses, suggested a continued rise in the earnings of grass-roots workers. The average monthly employment earnings of full-time employees in the lowest three decile groups combined, excluding foreign domestic helpers, grew solidly by 4.4 per cent in nominal terms and 1.7 per cent in real terms. As to the overall income situation, median monthly household income, excluding foreign domestic helpers, rose 6.7 per cent to $28,000 in 2018 from $26,250

in 2017.

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