Published: 17:42, June 20, 2024
HK unemployment rate remains unchanged at 3%
By Wang Zhan in Hong Kong
In this Jan 29, 2024, photo, people use a crossing in Hong Kong's Central district. (SHAMIM ASHRAF / CHINA DAILY)

Hong Kong's seasonally adjusted unemployment rate stood at 3 percent in the three-month period ending in May, same as that in the February-April period, data released by the Census and Statistics Department showed on Thursday.

The underemployment rate in the March-May period edged up slightly to 1.2 percent, from 1.1 percent in the February-April period.

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“The labor force and total employment increased further, by 5,300 and 2,800 to 3,813 100 and 3,696,900 respectively,” Secretary for Labour and Welfare Chris Sun Yuk-han said commenting on the latest unemployment figures.

The labor market should stay tight in the near term alongside the continued economic growth.

Chris Sun Yuk-han, Secretary for Labour and Welfare, HKSAR 

The data showed that the number of unemployed persons increased by around 2,500 from February-April 2024 to 116, 200 in March-May 2024. Over the same period, the number of underemployed persons rose by around 4,200 to 44,700.

Movements in the unemployment rate in different industry sectors varied, but the magnitudes were generally not large, said the government.

As to the underemployment rate, increases were mainly seen in the decoration, repair, and maintenance for buildings sector; cleaning and similar activities sector; and arts, entertainment, and recreation sector, it added.

Looking ahead, the secretary for labor said, “The labor market should stay tight in the near term alongside the continued economic growth.”

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In the March-May period, the Labour Department recorded a monthly average of 77,692 vacancies from the private sector, representing a year-on-year decrease of 26.7 percent and an increase of 3.0 percent over the average figure in the February-April period.