Speaking of which, Macau's economic pulse still seems to be strongly driven by the gaming industry. The latest data shows that between September and November last year, the gaming and related industries in Macau employed about 69,100 people. This figure means that more than one in every four employed residents in Macau works in this industry, accounting for 25.8%.
The gaming industry remains a pillar of the labor market
Despite global economic and tourism challenges, the employment situation in Macau's gaming industry has remained relatively stable. This directly consolidates its position as a "stabilizing needle" in the local labor market. Meanwhile, Macau's overall unemployment rate remains at a historical low of 1.7%, with the local residents' unemployment rate at 2.3%, showing strong resilience in the overall job market.
The overall job market shows stable performance
According to information released by the Statistics and Census Service (DSEC) of Macau, the total employed population in Macau reached 378,900. Including about 109,300 residents and non-resident workers living outside Macau, the total labor population reached 494,900. Seeing this number, you might wonder, besides gaming, how are other industries doing? For instance, the number of employees in the wholesale and retail industry has slightly declined to 43,600, accounting for 13%; while the hotel, construction, and catering industries have not changed much.
Concerns and opportunities under stable structure
Of course, the other side of stability also reflects the challenges of economic diversification. Among about 6,700 unemployed residents, most previously worked in retail or gaming-related jobs. The proportion of first-time job seekers among the unemployed population has slightly risen to 14.4%. In addition, there are about 5,900 underemployed residents, mainly concentrated in the real estate, transportation, and retail industries. This indicates that although the gaming industry provides a large number of jobs, promoting the development of other industries and creating more high-quality job opportunities is still crucial for the long-term health of Macau. Observing global industry trends from the PASA official website, how to balance pillar industries with diversified development is a common issue faced by many economies dominated by gaming.
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This article is from "PASA-Global iGaming Leader" gaming news channel:https://t.me/pasa_news
Original in-depth gaming channel:https://t.me/gamblingdeep
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