UNEMPLOYMENT EDGES UP macaubusiness.com
Unemployment in Macau for June to August 2009 rose by 0.1% when compared to the May to July period, to 3.8%. Underemployment stayed the same at 1.9%. On a year-over-year basis, the unemployment rate rose by 0.8%. The employed population decreased by 1,700 from the May to July period to 318,800. Employment in retail trade and construction saw decrease, while employment in restaurants and similar activities registered an increase.
WYNN MACAU UNIT IPO OVER 10 TIMES COVERED: SOURCE reuters.com
Wynn Resorts’ $1.6 billion IPO is more than 10 times covered, according to a source familiar with the deal. Most of the interest for the unit has come from Asia and the company favors at least 50% of the offering going to Asian investors. The retail part of the offering was some 50 times covered in the first few hours.
VISITORS UP 6.4% IN AUGUST TO 2.06 MILLION, HIGHEST NUMBER SINCE MARCH 2008 macaunews.com.mo
August saw 2.06 million visitors coming to Macau, a 6.4% increase over the same month of last year. On a sequential basis, the number of arrivals rose by 17.7%. August’s figure was the highest since March 2008, when 2.13 million people visited Macau. 50.9% of the visitors were mainlanders in August, reaching 1.05 million, up 8.9% year-over-year.