Employment in the private sector drops 1.3% YoY in June

Given the drop, vacancies rose by 38% YoY.

The total number of employed individuals in the private sector dropped by 1.3% YoY to 2,673,400 in June, data from the Census and Statistics Department (C&SD) showed. 

Across industries, import and export trade had the highest employment in June, engaging 382 500 persons, followed by professional and business services excluding cleaning and similar services (297, 200), retail trade (244, 800), financing and insurance (233, 400), and food and beverage services (217,200).

Compared to the same period last year, however, the employment figure in the professional and business services industry dropped by 3.1% YoY.

READ MORE: Unemployment rate dips to 4.1%

Other industries which saw a decrease in employment include accommodation services (-9.8% YoY); manufacturing (-5.3% YoY); transportation, storage, postal and courier services (-3.7% YoY); and arts, entertainment, recreation and other services (-2.8% YoY).

Given the drop, vacant job posts rose by 38% YoY to reach 62,500. Most of the vacancies are from the industries of education (7,440), professional and business services excluding cleaning and similar services (5,890), human health services (5860), financing and insurance (5 780 ), retail trade ( 4 880 ), and residential care and social work services (4 810).