Hong Kong Jobless Rate Steady at Over 21-Year Low

The seasonally adjusted unemployment rate in Hong Kong was unchanged at 2.8 percent in the three months to February 2019, remaining the lowest jobless rate since January 1998. Meantime, the underemployment rate fell to 1.0 percent in the December-February period from 1.1 percent in the prior period.

On a non-seasonally adjusted basis, the number of unemployed persons rose by 700 to 102,500 in December-February 2019 when compared with the previous period, while the number of underemployed declined by 1,900 to 40,300 persons. On a yearly basis, the unemployment situation continued to improve for many of the main services sector, namely in the retail, accommodation and food services sectors, amid the expansion in inbound tourism.

Meanwhile, the number of employed dropped by 5,900 to 3,867 thousand and the labour force participation rate went down to 60.7 percent from 60.8 percent in the prior period. 

Looking ahead, "The labour market is expected to stay tight in the near term. Nevertheless, the Government will stay vigilant to the external uncertainties and monitor the potential impact on the local labour market closely" the Secretary for Labour and Welfare, Dr Law Chi-kwong, said. 

Hong Kong Jobless Rate Steady at Over 21-Year Low

Census and Statistics Department | Stefanie Moya | stefanie.moya@tradingeconomics.com
3/19/2019 8:47:34 AM