Hong Kong Unemployment Rate Flat at 3.3%

The seasonally adjusted unemployment rate in Hong Kong was recorded at 3.3 percent for the eighth consecutive period in the three months to February of 2016. The underemployment rate decreased to 1.3 percent from 1.4 percent.

Comparing the three months to February of 2016 with the previous period, the number of unemployed persons (not seasonally adjusted) increased by around 900 to 120 700 and the number of underemployed persons decreased by around 2 400 to 50 800.

Movements in the unemployment rate (not seasonally adjusted) varied among industries: increases were mainly seen in the decoration, repair and maintenance for the buildings sector and accommodation services sector while decreases were mainly seen in the transportation sector and insurance sector. As to the underemployment rate, decreases were mainly observed in the arts, entertainment and recreational activities sector and transportation sector.

Total employment increased by around 4 400 to 3.8164 million. The labour force also increased by around 5 300 to 3.9371 million.

On the short-term outlook, the Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung said that although the labour market has remained broadly stable in overall terms thus far, the near-term employment outlook is overshadowed by a slow-growing global economy and slackening inbound tourism.

Hong Kong Unemployment Rate Flat at 3.3%

Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
3/17/2016 9:25:27 AM