Hong Kong Unemployment Rate Steady at 3.2%

Hong Kong seasonally adjusted unemployment rate was stable at 3.2 percent in March to May 2015. While the number of unemployed persons was marginally unchanged, employment fell.

The number of unemployed persons (not seasonally adjusted) in March - May 2015 was 127 700, about the same as that in February - April 2015 (127 500). Over the same period, the number of underemployed persons increased by around 3 500 from 49 400 to 52 900.

The unemployment rate (not seasonally adjusted) increased in the wholesale sector while a decrease was mainly seen in the decoration, repair and maintenance for buildings sector. As to the underemployment rate, an increase was mainly observed in the construction sector.

Total employment decreased by around 12 200 from 3 792 300 in February - April 2015 to 3 780 100 in March - May 2015. Over the same period, the labour force also decreased by around 12 100 from 3 919 800 to 3 907 700.

On the short-term outlook, the Secretary for Labour and Welfare said "Although the labour market stayed resilient recently, the near-term employment outlook remains clouded by the highly uncertain external environment as well as the sluggish performance of the retail and other tourism-related sectors. We will continue to stay vigilant and closely monitor development, in particular the employment situation of those at the grassroots level."

Hong Kong Unemployment Rate Steady at 3.2%

Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
6/18/2015 10:17:44 AM