Hong Kong Jobless Rate Unchanged at Over 21-Year Low

The seasonally adjusted unemployment rate in Hong Kong stood at 2.8 percent in the three months to March 2019, remaining the lowest jobless rate since January 1998. Also, the underemployment rate was unchanged at 1.0 percent, the same as in the previous period.

On a non-seasonally adjusted basis, the number of unemployed persons went up by 7,900 to 110,400 in January-March 2019 when compared with the prior period, while the number of underemployed dropped by 1,400 to 38,900 persons. On a yearly basis, the unemployment situation continued to improve for many of the main services sector, notably in the retail, accommodation and food services sectors, amid an expansion in inbound tourism.

Meantime, the number of employed rose by 6,300 to 3,867 thousand and the labour force participation rate was steady at 60.7 percent. 

Looking ahead, "The labour market is expected to remain largely stable in the near term. The Government will stay vigilant to how the evolving external uncertainties will affect the labour market going forward." the Secretary for Labour and Welfare, Dr Law Chi-kwong, said. 

Hong Kong Jobless Rate Unchanged at Over 21-Year Low

Census and Statistics Department | Stefanie Moya | stefanie.moya@tradingeconomics.com
4/18/2019 8:44:15 AM