Total employment down 3.8% YoY to 37,310 in March

Total number of vacancies saw a shortfall of 4,960 compared to the same time previous year.

The Census and Statistics Department (C&SD) has released a report showing a 3.8% YoY reduction in employment in the private sector in March. The total number of vacancies also took a dive from 42,270 in March 2019 to 37,310.

Also read: Unemployment rate hit 15-year high in March-May

Employment fell in the majority of the surveyed industries compared with a year earlier. Decreases in employment were mainly recorded in the food and beverage services (-12%), accommodation services (-10%), import and export trade (-8.7%), wholesale (-6.6%), and retail trade (-6.5%) industries.

On the contrary, employment increased mainly in the industries of human health services (4.3%) and residential care and social work services (2.6%).

As for vacancies, reductions were mainly observed in the food and beverage services (-82%), retail trade (-63%) arts, entertainment, recreation and other services (-76%), and professional and business services (-37%) sectors. Compared to December 2019, the seasonally adjusted total employment and total vacancies in the surveyed industries fell 1.8% and 24.1%, respectively, in March.