Help wanted: The total labour force grew to a new high of 3,639,500 people upon the increased entry of fresh graduates and school leavers into the job market.

The jobless rate for May-July fell to 4.9%, the lowest in nearly five years, the Census & Statistics Department says.

Improvement in the labour market will hinge on the overall economic performance, particularly the pace of job creation in the corporate sector, relative to the labour-supply growth.

According to the latest labour-force statistics released today, the jobless rate fell to 4.9% from 5% in April-June. The underemployment rate also dipped 0.1 percentage point to 2.6%.

The jobless rate improved most in the foundation and superstructure construction, sanitary services and wholesale trade sectors. The underemployment rate improved most in the decoration and maintenance, manufacturing and education-services sectors.

Labour force expands to new high

The total labour force grew to a new high upon the increased entry of fresh graduates and school leavers into the job market, leading to a rise in the number of unemployed people.

Total employment rose by 25,000 to an all-time high of 3,452,500 people, along with continued economic expansion. The labour force grew 32,900, to a new high of 3,639,500 people. The number of jobless people rose by 8,000 to 187,000, while the number of underemployed people fell by 3,000 to 93,000.

Buoyant market

The labour market remained buoyant. In July the Labour Department received 38,681 vacancies, up 7.6% over a year earlier.

For the first seven months of the year, the figure also rose 22.7% over the same period last year, to 278,317. The department achieved 69,180 placements, up 14.7% over a year earlier.

To develop young school leavers' job skills and working experience, and to enhance their employability and competitiveness, the department will offer 20,000 training places under the Youth Pre-employment Training Programme and the Youth Work Experience Training Scheme. Joint enrolment started July 29. For details, click here.