Hong Kong Unemployment Rate at 3.3% in October


In October of 2013, Hong Kong’s jobless rate remained stable at 3.3 percent for the fifth straight month, on the back of resilient domestic demand. Although total employment went down, it still registered a year-on-year growth rate of 2.6 percent.

The number of unemployed persons (not seasonally adjusted) decreased by around 4100 from 134200 in July-September to 130100 in August-October.  The number of underemployed persons in August-October was 56800, about the same as 57000 in July-September.

Increases in the unemployment rate (not seasonally adjusted) were mainly observed in the postal and courier activities, and manufacturing sectors, while decreases were mainly seen in the insurance, and decoration, repair and maintenance for buildings sectors.  As to the underemployment rate, increases were mainly observed in the decoration, repair and maintenance for buildings, and arts, entertainment and recreation sectors, while decreases were mainly seen in the foundation and superstructure works of the construction sector, and the manufacturing sector.

Total employment decreased by around 2300 from 3750100 in July-September to 3747800 in August-October. Over the same period, the labour force also decreased by around 6400 from 3884300 to 3877900.

The number of private sector vacancies recorded by the Labour Department increased by 10.7 percent from 98244 in the previous month to 108718, and up by 13.1 percent over 96098 in the same period last year.

Hong Kong Unemployment Rate at 3.3% in October


Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
11/18/2013 10:07:39 AM