Hong Kong Unemployment Rate at 3.3%

Hong Kong seasonally adjusted jobless rate remained steady at 3.3 percent for the fifth straight period in September to November 2014. While employment was marginally unchanged, the labor force decreased.

Comparing September - November 2014 with August - October 2014, increases in the unemployment rate (not seasonally adjusted) were observed in the retail sector and the foundation and superstructure works of the construction sector, while a decrease was seen in the food and beverage service activities sector. As to the underemployment rate, increases were observed in the decoration, repair and maintenance for buildings, and food and beverage service activities sectors.

The number of unemployed persons (not seasonally adjusted) decreased by around 2 800 from 129 200 in August - October 2014 to 126 400 in September - November 2014. Over the same period, the number of underemployed persons increased by around 4 900 from 57 200 to 62 100. 

Total employment in September - November 2014 was 3 779 400, about the same as 3 778 600 in August - October 2014. Meanwhile, the labour force decreased by around 1 900 from 3 907 800 in August - October 2014 to 3 905 900 in September - November 2014.

The Secretary for Labour and Welfare said "While the unemployment situation in those sectors more affected by the 'Occupy Movement' has remained largely stable, some signs of worsening in the underemployment situation were observed. Although labour demand in the near team is likely to remain buoyant in the run-up to the festive season around Christmas and the New Year, the potential lagging impacts of the 'Occupy Movement' on the domestic economy will still need to be watched."

Hong Kong Unemployment Rate at 3.3%

Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
12/18/2014 10:25:10 AM