Hong Kong Jobless Rate Steady at Near 21-Year Low

The seasonally adjusted unemployment rate in Hong Kong was unchanged at 2.8 percent in the three months to December of 2018, remaining the lowest jobless rate since January of 1998. Also, the underemployment rate was steady at 1.2 percent, the same as in the previous period.

On a non-seasonally adjusted basis, the number of unemployed persons declined by 5,400 to 105,400 in October-December 2018 when compared with the previous period, and the number of underemployed dropped by 1,400 to 44,500 persons. On a yearly basis, the unemployment situation continued to improve for most of the main services sector, mainly in the retail, accommodation and food services sectors, amid the expansion in inbound tourism.

On the other hand, the number of employed increased by 5,400 from the previous three-month period to 3,873 thousand and the labour force participation rate was unchanged at 60.9 percent.

Looking ahead, "The labour market is expected to remain tight in the near term. Yet, the Government will stay vigilant and monitor the developments closely in view of the various challenges facing the local economy." the Secretary for Labour and Welfare, Dr Law Chi-kwong, said. 

Hong Kong Jobless Rate Steady at Near 21-Year Low

Census and Statistics Department | Stefanie Moya | stefanie.moya@tradingeconomics.com
1/17/2019 8:50:28 AM