Hong Kong Jobless Rate Remains Lowest in Over 20 Years

The seasonally adjusted unemployment rate in Hong Kong was unchanged at a 20-year low of 2.8 percent in the three months to September 2018. The underemployment rate, however, edged up to 1.2 percent from 1.1 percent in the June-August period.

On a non-seasonally adjusted basis, the number of unemployed persons went up by 400 to 117,800 in July-September 2018 when compared with the previous period, and the number of underemployed increased by around 1,800 to 47,300 persons. Nevertheless, the unemployment situation continued to improve for most of the main service sectors, particularly in the accommodation services, decoration, repair and maintenance for buildings, as well as information and communications sectors.

Meanwhile, the number of employed dropped by 7.8 thousand from the previous three-month period to 3.88 million and the labour force participation rate edged down to 61.2 percent.

Looking ahead, "Overall labour market conditions will likely remain favourable in the near term. Nonetheless, the Government will continue to monitor closely how the increasing external headwinds will affect the local labour market going forward." 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
10/19/2018 8:55:44 AM