Hong Kong Jobless Rate Falls to Lowest Since 1998

The seasonally adjusted unemployment rate in Hong Kong declined to 2.9 percent in the three months to December of 2017 from 3.0 percent in the previous period. It was the lowest jobless rate since January of 1998, mostly due to decreases in the real state and construction sector. Meanwhile, the underemployment rate remained unchanged at 1.1 percent for the sixth consecutive period.
Census and Statistics Department | Stefanie Moya | stefanie.moya@tradingeconomics.com 1/18/2018 8:57:27 AM
Comparing to the previous three-month period, the number of unemployed persons fell by about 8 000 to 109,800 in October-December 2017, while the number of underemployed persons increased by around 500 to 42 100.

Meantime, total employment rose by 10,300 to 3.850 million in the three months to December, and the labour force by around 2,400 to 3.960 million.

Looking ahead, "The overall benign economic conditions are expected to keep the labour market tight in the near term. Nevertheless, we will continue to monitor closely the various external uncertainties and developments in the local labour market.", the Secretary for Labour and Welfare, Dr Law Chi-kwong, said.

Hong Kong Jobless Rate Falls to Lowest Since 1998