Macau Yearbook 2013 - Macao Yearbook

EconomyUnemployment and UnderemploymentIn the fourth quarter of 2012, Macao recorded an unemployed population of around 6,600,representing an unemployment rate of 1.9 percent. Among the unemployed, 83.9 percent hadwork experience and were looking for jobs, whereas 16.1 percent had not worked before and werelooking for their first job. In terms of education, 26.3 percent of the unemployed had completedonly primary education or below; 31.8 percent, 21.6 percent and 20.2 percent had completed lower,higher secondary and tertiary education respectively.Among the unemployed, 67.3 percent had spent less than four months looking for a job, 18.8percent had spent four to six months looking for a job, and 4.3 percent had spent more than 12months. Among the unemployed looking for a new job, 32.0 percent were from the cultural,entertainment, gaming and other services sector, 17.5 percent from the construction industry,15.0 percent from the wholesale and retail industry, 14.9 percent from the hotel and cateringsector. In terms of their occupations before being unemployed, 32.9 percent of the job seekerswere clerks, 22.9 percent were service workers or in sales, and 15.9 percent were unskilledworkers. The major causes of unemployment were personal or family reasons (38.2 percent),unsatisfactory work conditions (20.1 percent), termination of temporary jobs (14.2 percent), andclosure of business (13.8 percent).Monthly EarningsStatistics reveal that in the fourth quarter of 2012, the overall median monthly income of Macao’semployed population was 12,000 patacas. The median monthly income of the cultural, entertainment,gaming and other services sector, which employed the largest number of workers, was 15,000patacas, and that of gaming in particular was 15,000 patacas. Sectors with the highest medianmonthly income were, in descending order, public administration and social security (28,400patacas), education (17,000 patacas), water, electricity and gas production and supply (16,500patacas), and medical, healthcare and social welfare (15,000 patacas).Non-Resident WorkersAt the end of December 2012, Macao had 110,552 non-resident workers, an increase of 17.6 percentyear on year. The hotel and catering industry accounted for the largest share of non-resident workers(30.8 percent), followed by household jobs (16.4 percent), construction (13.9 percent), wholesaleand retail (10.5%), cultural, entertainment, gaming and other services (10.1 percent), including1,427 construction workers directly hired by gaming companies.Financial ManagementThe Financial Services Bureau fulfils its public finance management function by supervising thefinancial operations of the MSAR in accordance with the law. It puts in place a set of regulations andguidelines concerning budget management, and enhances its financial supervision over autonomousentities. The principle of setting budgets is that public resources should be allocated in the way that157