The latest data shows employment growth in Macau’s hospitality sector

After two consecutive periods of decline, Macau’s unemployment rate appears to be stabilizing, according to the latest employment survey. Both the overall and local rates fell by about a percentage point from a year earlier, according to the Statistics and Census Service (known by its Portuguese acronym, DSEC).

The overall unemployment rate, which includes out-of-state workers and residents, was 1.9 percent from March to May, while the rate for residents was 2.5 percent. Both rates were unchanged from February to April and were comparable to pre-pandemic levels recorded from December 2019 to February 2020.

The underemployment rate also remained unchanged at 1.4 percent.

(See more: Macau’s employment rates have returned to pre-pandemic levels, study shows)

The DSEC said employment in the financial and construction sectors had fallen, while rising visitor numbers had boosted employment in the hospitality sector.

In the period from March to May, 7,200 people were unemployed, which means a decrease of 200 people. Most job seekers have previously worked in the gaming and junk industry, retail and construction. The number of people entering the labor market looking for their first job was 6.2%. total unemployed.

The total labor force resident in Macau during this period was 379,300, and the labor force participation rate was 67.4%. The number of employed residents amounted to 283.6 thousand, which means a decrease of 800 people compared to the previous period.