Hong Kong Jobless Rate Falls to Fresh 20-Year Low

The seasonally adjusted unemployment rate in Hong Kong fell to 2.8 percent in the three months to April of 2018, easing from 2.9 percent in the previous period. It remained the lowest rate since 1998.

On a non-seasonally adjusted basis, the number of unemployed persons increased slightly by 800 to 112,900 in February - April 2018 when compared with the previous period, while the number of underemployed dropped by around 2,200 to 41,100. The unemployment situation improved notably for most of the main service sectors, particularly in the financing sector, as well as trade and tourism-related industries amid positive global economic conditions and further recovery in inbound tourism.

Meantime, total employment in February – April of 2018 fell by 5,800 persons to 3,866,600 and the labour force went down by around 4,900 to 3,979,500 persons.

Looking ahead, "Overall labour market conditions will likely remain tight in the near term amid the prevailing positive economic environment. Yet, we will stay vigilant and closely monitor the relevant developments." the Secretary for Labour and Welfare, Dr Law Chi-kwong, said.

Hong Kong Jobless Rate Falls to Fresh 20-Year Low

Census and Statistics Department | Gabriela Costa | gabriela.costa@tradingeconomics.com
5/17/2018 9:31:45 AM