Total employment in private sector grows 1.5% YoY in March

But vacancies went up 45% in March 2023.

The private sector employment increased to 39,300 persons whilst vacancies was at 77,750 in March 2023 compared to a year before, data from the Census and Statistics Department (C&SD) showed.

In March 2023, the selected industries as a whole employed 2,719,800 persons. The import and export trade attracted 378,100 persons, followed by professional and business services (excluding cleaning and similar services) engaging 306,100 persons, retail trade with 248,500 persons, financing and insurance with 233,000 persons, and food and beverage services with 223,900 persons.

Increases in employment were mainly recorded in the industries of construction sites (manual workers only) (10.3% or 10,100 persons), food and beverage services (9.4% or 19,200 persons), arts, entertainment, recreation and other services (7.1% or 7,900 persons), and education (3.8% or 7,700 persons). Employment, however, decreased mainly in the industries of cleaning and similar services (2.0% down or down 1,700 persons), and import and export trade (1.9% down or declined 7,500 persons).

Vacancies

Of the 77,750 private sector vacancies in March 2023, 7,990 were from the industry of education; 7,440 from transportation, storage, postal and courier services; 6,800 from professional and business services (excluding cleaning and similar services); 6,610 from human health services; and 6,410 from retail trade.

Increases were more notable in the industries of transportation, storage, postal and courier services (3,890 or 110%), food and beverage services (3,400 or 141%), arts, entertainment, recreation and other services (2 710 or 99%), retail trade (2,700 or 73%), and education (2,010 or 34%). 

By major occupation category, private sector vacancies were observed mainly in the categories of service and sales workers (29,500 vacancies), professionals (13,320 vacancies), and associate professionals (12,590 vacancies).