General market recovery expected this year, however real estate executive warns ‘situation will not improve overnight’.
unemployment
Among the unemployed looking for a new job, most were previously engaged in the gaming, junket and construction industry.
Tempers flare during talks on possible wrongful contract terminations and assistance for unemployed.
Government still reviewing the situation, while industry association boss proposes formal training and licensing system.
Gaming and construction industry workers hit hardest, but better prospects in the offing for education, retail and wholesale sectors.
“When the unemployment rate is high, continuing education is a solid option,” says Macau Institute of Management president.
Macao’s general unemployment rate and local residents’ jobless rate of local residents for August-October remained unchanged at 2.9% and 4.1%.
Macao’s general unemployment rate between May and July reached 2.7 per cent, up by 0.2 percentage points from the April-June survey period.
The novel coronavirus outbreak is impacting employment, causing job uncertainties in the workforce, as well as fresh graduates, two civic leaders have warned.
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