A man reads a newspaper while sitting on a promenade that runs along Victoria Harbour in Hong Kong on Dec 14, 2020.
(ANTHONY WALLACE / AFP)
Pressure on Hong Kong’s labor market is likely to increase again in the wake of the fourth wave of COVID-19 infections, although the city recorded a slightly improved 6.3 percent unemployment rate from September through November, Secretary for Labour and Welfare Law Chi-kwong said on Thursday.
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Law made his remarks as the government released Hong Kong’s latest unemployment rate. Reflecting the previous easing of the pandemic, the unemployment rate dipped 0.1 percentage point from the 6.4 percent rate from August through October.
Given the fourth wave of the local epidemic of late, the pressure on the labor market is likely to increase again in the near term.
Law Chi-kwong, secretary for labour and welfare
The number of unemployed people decreased by 13,500 to 244,300. A major improvement was observed in the retail, accommodation and food services sector, education, and the art, entertainment and recreation sectors.
The underemployment rate also dropped to 3.4 percent during September to November, from 3.8 percent in August to October.
Total employment increased by around 22,400, or 0.6 percent, to 3.65 million from September to November. In mid-2020, the population of Hong Kong stood at 7.5 million.
Labor market conditions remained weak in the September-through-November period, although it showed some marginal improvement amid the stabilization of the third wave of local pandemic, Law said in a news release.
“Given the fourth wave of the local epidemic of late, the pressure on the labor market is likely to increase again in the near term,” Law said.
Standard Chartered Bank (Hong Kong) predicted in its annual report released on Tuesday that Hong Kong’s unemployment rate will peak at about 7 percent in the first half of next year.
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Law said the Labour Department will organize the Creating New Opportunities Online Job Fair on Jan 7 and 8 next year. Over 40 employers will participate, offering many job vacancies from various industries to online applicants, he said.
He said that in November, the Labour Department recorded 73,597 job vacancies from the private sector, an increase of 7 percent from October. Job-seekers may make use of the department’s online platforms such as the Interactive Employment Service website and its mobile application for obtaining vacancy and employment information, he said.
