Macau’s Gaming and Junket sector has witnessed a decline in employed individuals, with figures dropping to approximately 68,800 between August and October, marking a 3.1% decrease compared to the preceding period (July to September) when employment stood at 71,000, as reported by Macau’s Statistics and Census Service (DSEC).
According to the findings of the DSEC’s Employment Survey, the overall unemployment rate for August to October 2023 held steady at 2.4%. Concurrently, the unemployment rate for local residents remained unchanged at 3.1%. The underemployment rate experienced a marginal decrease of 0.1 percentage points, settling at 1.5%.
Among industries, employment experienced an uptick in the hotel and restaurant sector and in education, while a decrease was observed in the Gaming and Junket sector.
Contrarily, the hotel segment reported a nearly 3% rise in employment, reaching 26,900, paralleled by a similar scenario in restaurants, which witnessed a 1.9% increase, totaling 21,100.
Preliminary estimates, based on immigration data, indicate that an average of approximately 96,800 Macau residents and non-resident workers were employed in Macau but lived outside the territory during the reference period. Meanwhile, the total labor force expanded by 2,900, reaching 476,300.
Comparing the current period with the corresponding timeframe last year, the labor force participation rate, unemployment rate, and underemployment rate exhibited declines of 0.6, 1.5, and 5.0 percentage points, respectively.
Concerning Macau’s employment breakdown by segment, individuals engaged in ‘recreational, cultural, gaming, and other services’ constituted 21.7%, while those in ‘hotels, restaurants, and similar activities’ comprised 13%.
Original article: https://www.yogonet.com/international/noticias/2023/11/27/69826-macau-39s-gaming-and-junket-sector-employment-sees-31-decline-in-latest-quarter
