According to the Department of Statistics and Census, the most recent unemployment rate of the local population reached 4.3 percent, with the underemployment rate reaching 3.2 percent. While these numbers are better than during the pandemic, there is still a significant difference when compared to the pre-pandemic period.
Many ordinary residents still face problems such as underemployment and even unemployment, especially when it comes to expenses such as housing, medical care and children’s education, which not only affect their personal lives but also put pressure on family finances.
For example, some residents are now unemployed or have suffered a reduction in income while waiting for social housing, so they can only use their remaining savings or borrow money from family and friends to pay rent.
The Government introduced the provisional plan for granting residence allowances to households on the list of candidates for social housing in 2008, but this plan is not applicable to candidates for social housing who are on the waiting list.
Although someone on the waiting list could now receive an apartment in at least four years or less, the monthly rental costs only cause more anxiety for people who are already in a vulnerable situation. Although the economy is gradually recovering, many employees have yet to re-enter the workforce and many residents are eager for an early handout that can ease the pressure on their lives.
The government should pay close attention to the unemployed and people with financial difficulties affected by the pandemic and formulate measures to stabilize people’s livelihoods, so that the whole community, including the grassroots population, can cooperate in the post-pandemic economic recovery.
At the moment, although households on the Waiting List for social housing can receive an apartment in four years or less, those applying for social housing are basic residents and their monthly housing expenses are a serious problem in their lives. Authorities should provide adequate assistance through the Waiting List Allowance to regular applicants in order to alleviate their accommodation expenses during the waiting period.
At the same time, in the initial phase of economic recovery, in addition to continuing to intensify efforts to promote the improvement of the business situation of various industries in Macao, it is also necessary to continuously review and assess the market development and employment environment of residents and introduce the necessary measures in a timely manner. The Government should advance the payment of the Pecuniary Contribution in progress this year, in order to alleviate the pressure on the cost of living for residents without increasing public finance expenses.
In addition, the 2022 Macau Consumption Carnival launched by the government in October last year generated an indirect consumption volume of 1.33 billion patacas in the four months from its launch to its end on 28 February, boosting the Macao’s post-pandemic economic recovery and achieving good results.
It is recommended that the authorities explore the feasibility of launching a second phase of this initiative as soon as possible, in order to maintain the consumption momentum and expand domestic demand, thus reinforcing the confidence of the local business sector in maintaining its operations and benefiting residents at the same time.
*People’s Alliance of Macao Institution
