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Unemployment rate


the lowest since handover The opening of Galaxy Macau helped lower the unemployment rate for March- May 2011 to 2.6 percent, down by 0.1 percentage points from the previous period (February-April 2011). This is the lowest  gure since the handover of Macau to China, in December 1999. The number of unemployed decreased slightly by 100 from the previous period to 8,800, with 6.3 percent being fresh labour force entrants searching for their  rst job. The employed population was 328,000, up by about 3,300 over the previous period.


Imported workers keep growing The number of imported workers continues to increase month-on-month. In May, the total number of non-resident workers in Macau stood at 84,000, up by 1.6 percent in comparison with the previous month, according to data from the local authorities. In September 2008, Macau had a total of 104,000 imported workers, but after then the number continued to fall month-to-month until it rose back again for the  rst time in June 2010.


Consumers


Gaming tax revenue increases In the  rst  ve months of 2011, Macau’s total public revenue has risen by 46.4 percent in comparison with the same period from last year, to a total of MOP41.65 billion (US$5.2 billion), according to the Financial Services Bureau. This increment was due to a noticeable increase in the revenue from direct taxes on gaming, up by 46.2 percent, to MOP35.17 billion. Total public expenditure was MOP12.19 billion, an increase of 69.9 percent in comparison with the same period from last year. A  scal surplus of MOP29.46 billion was recorded in the  rst  ve months of 2011, up by 38.4 percent year-on-year.


Deposits go up Total deposits with the banking sector grew 3.3 percent month-on-month in April to MOP372.4 billion (US$46.6 billion). Meanwhile, domestic loans to the private sector increased 4.3 percent on a monthly basis to MOP145.9 billion. On the other hand, external loans contracted 1.2 percent to MOP146.3 billion. The loan-to-deposit ratio was 78.4 percent, down 1.4 percentage points from the previous month.


paying more The Composite Consumer Price Index (CPI) for May increased by 5.19 percent year-on-year, according to the Statistics and Census Service. The increase was attributable to higher charges for meals bought away from home and rising gasoline prices, the bureau said. The Composite CPI is Macau’s main indicator for in ation. For the 12 months ended May 2011, the average Composite CPI increased by 4.09 percent. The Composite CPI for May increased by 0.66 percent month-to-month.


JULY 2011


Photo: Carmo Correia


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