Hong Kong Jobless Rate Unchanged at 20-Year Low of 2.8%

The seasonally adjusted unemployment rate in Hong Kong was unchanged at a 20-year low of 2.8 percent in the three months to August 2018. Also, the underemployment rate was steady at 1.1 percent, the same as in the previous period.

On a non-seasonally adjusted basis, the number of unemployed increased by 2.7 thousand from the May-July period to 117.4 thousand in the three months to August and the number of underemployed went up by around 1.4 thousand to 45.5 thousand.

Meanwhile, the number of employed rose by 9.7 thousand from the previous three-month period to 3.9 million, mainly due to improvements in information & communication, accomodation services and retail sectors. In addition, the labour force participation rate edged up to 61.4 percent.

Looking ahead, "While labour market conditions will likely remain favourable in the near term, the Government will stay vigilant as to how developments in the external environment will affect the local labour market going forward." the Secretary for Labour and Welfare, Dr Law Chi-kwong, said.

Hong Kong Jobless Rate Unchanged at 20-Year Low of 2.8%

Census and Statistics Department | Gabriela Costa | gabriela.costa@tradingeconomics.com
9/18/2018 9:28:38 AM