Hong Kong Unemployment Rate Edges Down in April

Hong Kong seasonally adjusted unemployment rate decreased to 3.2 percent in February to April 2015, after remaining unchanged at 3.3 percent for nine consecutive periods. Both total employment and labour force sustained year-on-year growth.

Comparing February - April 2015 with the previous period, the number of unemployed persons (not seasonally adjusted) marginally increased by around 200 to 127 500 from 127 300. The number of underemployed persons decreased by around 4 100 to 49 400 (1.3 percent of the labour force) from 53 500.

Decreases in the unemployment rate were mainly seen in the information and communications, retail, and professional and business services (excluding cleaning and similar activities) sectors. As to the underemployment rate, a decrease was mainly observed in the construction sector.

Total employment in February - April 2015 decreased by around 8 800 to 3 792 300 from 3 801 100 in January - March 2015. Meanwhile, the labour force in February - April 2015 was 3 919 800, from 3 928 400 in the previous period, while the labour force participation rate grew to 61.5 percent (from 61.4 percent).

"The near-term employment outlook will continue to hinge on the overall economic growth, in particular how domestic demand and inbound tourism would fare down the road amidst the various uncertainties on the external front. We will stay vigilant and closely monitor development in the labour market.", the Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, said.

Hong Kong Unemployment Rate Edges Down in April

Census and Statistics Department | Joana Ferreira | joana.ferreira@tradingeconomics.com
5/19/2015 2:23:54 PM