Pedestrians use a crossing in Hong Kong's Central district on Jan 29, 2024. (SHAMIM ASHRAF / CHINA DAILY)

Hong Kong’s seasonally adjusted unemployment rate stood at 2.9 percent for the period between December 2023 and February 2024, unchanged from the November 2023-January 2024 period, according to the Census and Statistics Department.

The underemployment rate also remained unchanged at 1 percent, the latest labor force statistics released on Monday showed.

READ MORE: Hong Kong's jobless rate sees further decline to 2.8%

Total employment decreased by around 2,300 to 3,694,700, while the labor force shrank by around 2,700, to 3,797,000.

The labor market is expected to stay tight in the near term along with continued growth of the local economy.

Chris Sun, Secretary for Labour and Welfare, HKSAR 

The data also showed number of unemployed people was 102,300, unchanged from the preceding three-month period. The number of underemployed people decreased by around 1,200 to 37,600.

Commenting on the latest unemployment figures, Secretary for Labour and Welfare Chris Sun Yuk-han said the unemployment rates of various sectors remain low. 

Looking ahead, he said, "The labor market is expected to stay tight in the near term along with continued growth of the local economy.” 

In the December 2023-February 2024 period, the Labour Department recorded a monthly average of 76,502 vacancies from the private sector, representing a year-on-year decrease of 17.4 percent and a decrease of 8.5 percent over the average figure in November 2023-January 2024.

ALSO READ: Hong Kong's jobless rate holds steady at 2.9%

On large-scale job fairs, the Labour Department will organize the "Exploring New Opportunities Job Fair" at MacPherson Stadium in Mong Kok on March 26 and 27, 2024. Over 55 employers will participate, offering a large number of vacancies.