Macau August-October Unemployment Rate Falls

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Macau's unemployment rate stood at 3.5% in the August to October period, down from 3.7% in the preceding three month period, the Statistics and Census Service reported on Friday. A year ago, an unemployment rate of 3.1% was recorded for the same period.

In the August to October period, the total number of unemployed persons decreased by about 1,000 to 11,000, while the number of employed persons decreased by about 1,000 to 315,000. At the same time, the labor force participation rate slid to 71.7% from 72%, while the underemployment rate eased to 1.9% from 2%.

Analyzed by industry, the unemployment situation improved in hotels, restaurants & similar activities and wholesale & retail trade, the statistical office said.

Macau's unemployment rate stood at 3.5% in the August to October period, down from 3.7% in the preceding three month period, the Statistics and Census Service reported on Friday. A year ago, an unemployment rate of 3.1% was recorded for the same period. (Market News Provided by RTTNews)