Hong Kong Jobless Rate Remains Lowest in Over 20 Years

The seasonally adjusted unemployment rate in Hong Kong was unchanged at 2.8 percent in the three months to May of 2018, the same as in the previous period. It remained the lowest rate since 1998.

On a non-seasonally adjusted basis, the number of unemployed persons dropped by 600 to 112,300 in March - May 2018 when compared with the previous period, and the number of underemployed declined slightly by around 100 to 41,000. The unemployment situation continued to improve notably for most of the main service sectors, particularly in the trade and tourism-related industries, amid strong global demand and buoyant inbound tourism.

Meantime, total employment in March – May of 2018 fell by 1,700 persons to 3,866,600 and the labour force went down by around 2,300 to 3,977,200 persons.

Looking ahead, "Under the generally favourable economic situation, the labour market will likely stay tight in the near term. Yet, we will continue to monitor closely the various external uncertainties and developments in the local labour market." the Secretary for Labour and Welfare, Dr Law Chi-kwong, said.

Hong Kong Jobless Rate Remains Lowest in Over 20 Years

Census and Statistics Department | Gabriela Costa | gabriela.costa@tradingeconomics.com
6/19/2018 8:56:45 AM