Hong Kong Unemployment Rate Falls to 16-Month Low


In December of 2013, Hong Kong’s jobless rate fell to 3.2 percent, the lowest rate since August of 2012. For 2013 as a whole, both the labor force and total employment expanded at a provisional 2.3 percent and unemployment held steady at 3.3 percent.

Comparing October - December 2013 with September - November 2013, decreases in the unemployment rate (not seasonally adjusted) were observed in most sectors, including the insurance and retail sectors.  As to the underemployment rate, increases were mainly observed in the warehousing and support activities for transportation and education sectors, while decreases were mainly seen in the transportation, and food and beverage service activities sectors.

Total employment increased by around 17 700 from 3 742 700 in September - November 2013 to 3 760 400 in October - December 2013.  Over the same period, the labor force also increased by around 8 900 from 3 869 900 to 3 878 800.

The number of unemployed persons (not seasonally adjusted) decreased by around 8 800 from 127 200 in September - November 2013 to 118 400 in October - December 2013.  The number of underemployed persons in October - December 2013 was 55 500, about the same as 55 300 in September - November 2013.

A Government spokesman commented that in terms of job creation, 83 200 jobs (provisional figure) were added in 2013 over 2012. Last year, the Labour Department recorded 1 216 735 private sector vacancies, an all-time high figure and up by 6.3 percent over 2012.

Hong Kong Unemployment Rate Falls to 16-Month Low


Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
1/20/2014 9:39:59 AM