Employment survey for the whole year of 2024 and the 4th quarter of 2024

MACAU, January 24 - Information from the Statistics and Census Service (DSEC) indicated that, following the stable economic recovery in 2024, the general unemployment rate and the unemployment rate of local residents for the whole year decreased by 0.9 and 1.0 percentage points year-on-year to 1.8% and 2.4% respectively. Median monthly employment earnings of the employed population and the employed residents were MOP18,000 and MOP20,500 respectively, both up by MOP500 year-on-year.

In comparison with the third quarter of 2024, the general unemployment rate and the unemployment rate of local residents held stable at 1.7% and 2.3% respectively in the fourth quarter, whereas the general underemployment rate (1.5%) increased by 0.4 percentage points. Total employment (378,300) and the number of employed residents (286,000) decreased by 1,000 and 1,700 respectively in the fourth quarter. Employment in the Construction sector (25,100) and Retail Trade (32,100) fell by 1,600 and 800 respectively quarter-on-quarter, while employment in Real Estate & Business Activities (33,700) rose by 1,900. Median monthly employment earnings of the employed population and the employed residents stayed at MOP18,000 and MOP20,500 respectively in the fourth quarter.

When compared to the previous period (September - November 2024), the general unemployment rate, the unemployment rate of local residents and the general underemployment rate for October – December remained at 1.7%, 2.3% and 1.5% respectively. Total employment (378,300) and the number of employed residents (286,000) dropped by 1,000 and 1,300 respectively. By contrast, number of the unemployed (6,700) was similar to that in the previous period. Among the unemployed searching for a new job, most of them were previously engaged in the Gaming sector and Retail Trade. Meanwhile, the proportion of new labour market entrants seeking their first job decreased by 0.7 percentage points to 13.9% of the total unemployed.

The Employment Survey covers all residential units in the Macao Peninsula, Taipa and Coloane, excluding collective living quarters such as dormitories and care homes for the elderly. Individuals living in these units are included in the survey, and therefore Macao residents and non-resident workers who work in Macao but live outside the territory are excluded. According to the preliminary estimates from the movement records, an average of about 104,700 Macao residents and non-resident workers worked in Macao but lived outside the territory during the reference period (October – December 2024); when including these individuals in the labour force living in Macao (385,000), total labour force (approx. 489,600) decreased by 1,000 from the previous period (September – November 2024).