News

Hong Kong Unemployment Rate at 16-Year High
The unemployment rate in Hong Kong increased to 6.6 percent in the three months to December of 2020 from 6.3 percent in the previous period. It is the highest jobless rate since the last quarter of 2004 as the coronavirus pandemic continues to weigh on local consumption sentiment and disrupt economic activities. The number of unemployed rose by 1500 to 246 thousand and the employed population decreased by 2400 to 3.65 million. Unemployment went up across almost all the major economic sectors, with retail, accommodation and food services recording the main increases.
Published on 2021-01-19

Hong Kong Jobless Rate Drops to 6.3%
The seasonally adjusted unemployment rate in Hong Kong edged down to 6.3% in the three months to November of 2020 from 6.4% in the previous period. The number of unemployed persons (not seasonally adjusted) decreased by around 13,500 to 244,300 in September-November 2020. Over the same period, the number of underemployed persons also decreased by around 14,900 to 133,100. Meantime, employment increased by around 22,400 to 3.650 million.The labour force also increased by around 8,900 to 3.894 million. The unemployment rate decreased across almost all the major economic sectors, in particular retail, accommodation and food services, as well as education and the arts, entertainment and recreation sector. "Given the fourth wave of local epidemic of late, the pressure on the labour market is likely to increase again in the near term", the Secretary for Labour and Welfare said.
Published on 2020-12-17

Hong Kong Jobless Rate Remains at 15-Year High
The seasonally adjusted unemployment rate in Hong Kong was unchanged at 6.4 percent in October of 2020, remaining at the highest rate since January 2005, as the coronavirus pandemic hit the labour market. The number of unemployed persons (not seasonally adjusted) decreased by around 2,000 to 257,800 in August-October 2020. Over the same period, the number of underemployed persons also decreased by around 1,100 148,000. Meanwhile, employment increased by around 2,900 to 3.627 million. The labour force was little changed at 3.885 million. "While the overall economic situation saw some improvement in recent months, hiring sentiments among employers would probably remain cautious, especially when the economic outlook is still clouded by the evolving pandemic situation. The labour market will remain under pressure in the near term", the Secretary for Labour and Welfare said.
Published on 2020-11-17

Hong Kong Jobless Rate Highest Since 2005
The seasonally adjusted unemployment rate in Hong Kong rose to 6.4 percent in the three months to September 2020 from 6.1 percent in the previous period. It was the highest jobless rate since January 2005, as the coronavirus pandemic hit the labour market. The number of unemployed persons (not seasonally adjusted) increased by around 11,500 to 259,800 and the number of underemployed persons was 149,100, about the same as in the prior period. Meantime, the number of employed dropped by 15,600 to 3,624,800 and the labour force also declined by around 4,200 to 3,888,600. “As the overall economic situation remains weak and the global pandemic is still evolving, the labour market will remain under pressure in the near term. The Government has rolled out relief measures of unprecedented scale, including a series of measures on job retention and job creation, which help keep workers in employment", the Secretary for Labour and Welfare said.
Published on 2020-10-20

Hong Kong Jobless Rate Steady at Near 15-Year High
The seasonally adjusted unemployment rate in Hong Kong was unchanged at 6.1 percent in the three months to August 2020, the same as in the previous period. Still, it remained among the highest rates since the three months to January 2005, amid the coronavirus pandemic. The number of unemployed persons (not seasonally adjusted) rose by around 5,800 to 248,300 and the number of underemployed persons also increased by around 13,200 to 149,200. Employment went up by around 3,400 to 3,640,400 and the labour force also increased by around 9,300 to 3,888,800. "While the local epidemic situation has started to ease gradually in September, the global pandemic is still fluctuating in a rising trend and the overall economic situation remains weak. The labour market will remain under pressure in the near term", the Secretary for Labour and Welfare said.
Published on 2020-09-17

Hong Kong Jobless Rate Falls to 6.1%
The seasonally adjusted unemployment rate in Hong Kong fell to 6.1 percent in the three months to July 2020 from 6.2 percent in the previous period. Still, it remained among the highest rates since the three months to January 2005, amid the coronavirus pandemic. The number of unemployed persons rose by around 1,800 to 242,500 while the number of underemployed dropped by around 6,900 to 136,000. Meantime, the number of employed increased by around 16,600 to 3.637 million and the labour force went up by around 18,400 to 3.88 million. “The labour market showed some improvement as the local epidemic situation was largely under control in May and June, but will remain under pressure in the near term as the recent surges in cases have further clouded Hong Kong's economic outlook for the rest of the year”, Secretary for Labour and Welfare Dr Law said.
Published on 2020-08-19

Hong Kong Jobless Rate Jumps to Over 15-Year High
The seasonally adjusted unemployment rate in Hong Kong rose to 6.2 percent in the three months to June 2020 from 5.9 percent in the previous period, but below market expectations of 6.4 percent. It was the highest jobless rate since the three months to January 2005, amid the coronavirus pandemic. The number of unemployed persons increased by around 10,300 to 240,700 and the number of underemployed advanced by around 7,800 to 142,900. Meantime, the number of employed was 3.62 million about the same as in the prior period and the labour force went up by around 11,100 to 3.85 million. The unemployment rate increased across almost all the major economic sectors, with more distinct increases observed in the decoration, repair and maintenance for buildings sector; import and export trade sector; and warehousing and support activities for transportation sector.
Published on 2020-07-20

Hong Kong Jobless Rate Highest Since 2005
The seasonally adjusted unemployment rate in Hong Kong increased to 5.9 percent in the three months to May 2020 from 5.2 percent in the previous period. It was the highest jobless rate since the three months to April 2005, amid the coronavirus crisis. The number of unemployed persons rose by around 27,900 to 230,400 and the number of underemployed went up by around 16,500 to 135,100. Meantime, the number of employed dropped by around 37,900 to 3.62 million and the labour force declined by around 9,900 to 3.85 million. The unemployment rate increased across almost all the major economic sectors, with more distinct increases observed in the construction sector; retail, accommodation and food services sector; transportation sector; information and communications sector; education sector; and arts, entertainment and recreation sector.
Published on 2020-06-16

Hong Kong Jobless Rate Highest since 2010
The seasonally adjusted unemployment rate in Hong Kong jumped to 5.2 percent in the three months to April 2020 from 4.2 percent in the previous period. It was the highest jobless rate since the three months to October 2010, amid the coronavirus crisis. The number of unemployed persons increased by around 40,300 to 202,500 and the number of underemployed rose by around 35,800 to 118,600. Meantime, the number of employed dropped by around 62,600 to 3.66 million while the labour force declined by around 22,400 to 3.86 million. The unemployment rate in the consumption and tourism-related sectors combined soared to 9%, the highest in more than 15 years. In particular, the unemployment and underemployment rates in food and beverage service activities surged to 12% and 8.4%, respectively. To preserve the vitality of the economy, the Government has rolled out relief measures of unprecedented scale, including a series of measures on job retention and job creation.
Published on 2020-05-19

Hong Kong Jobless Rate Highest since 2010
The seasonally adjusted unemployment rate in Hong Kong increased to 4.2 percent in the three months to March 2020 from 3.7 percent in the previous period. It was the highest jobless rate since the three months to October 2010, as the number of unemployed persons rose by around 28,100 to 162,200 and the number of underemployed went up by around 23,700 to 82,800. Meantime, the number of employed declined by around 48,800 to 3.72 million while the labour force also decreased by around 20,800 to 3.90 million. The unemployment rate in the consumption and tourism-related sectors combined advanced to 6.8 percent, the highest in over a decade. In particular, unemployment in the food and beverage service activities was extremely severe, with the jobless rate soaring to 8.6 percent. The labour market will continue to face significant pressure in the near term amid the coronavirus crisis.
Published on 2020-04-20

Hong Kong Jobless Rate Highest since 2011
The seasonally adjusted unemployment rate in Hong Kong rose to 3.7 percent in the three months to February of 2020 from 3.4 percent in the prior period and above market expectations of 3.5 percent. It was the highest jobless rate since the three months to January of 2011. The number of unemployed persons increased by around 11,800 to 134,100 and the number of underemployed also rose by around 11,800 to 59,100, the same as in the previous period. Meantime, the number of employed fell by 34,400 to 3.77 million while the labour force also decreased by around 22,500 to 3.90 million. The unemployment rate in the consumption and tourism-related sectors surged to 6.1% and 2.5% respectively, both the highest in about a decade. The labour market is expected to be subject to even more pressure in the near term, as the coronavirus outbreak has already caused severe disruptions to caused severe disruptions to a wide range of economic activities and dampened economic sentiment.
Published on 2020-03-17

Hong Kong Jobless Rate Highest since 2016
The seasonally adjusted unemployment rate in Hong Kong rose to 3.4 percent in the three months to January 2020 from 3.3 percent in the prior period and above market expectations of 3.3 percent. It was the highest jobless rate since the three months to November 2017. The number of unemployed persons were down by around 1,700 to 122,300 and the number of underemployed was 47,400, the same as in the previous period. Meantime, the number of employed fell by 14,600 to 3.80 million and the labour force also decreased by around 16,300 to 3.93 million. The unemployment rate in the consumption and tourism-related sectors stayed at 5.2%, the highest in more than three years while the jobless rate of the construction sector increased further to 5.7%, the highest level in close to six years. The labour market is expected to be subject to even more pressure in the near term, as the coronavirus outbreak has already caused severe disruptions to a wide range of economic activities.
Published on 2020-02-18

Hong Kong Jobless Rate Highest since 2017
The seasonally adjusted unemployment rate in Hong Kong rose to 3.3% in the three months to December 2019 from 3.2% in the prior period while markets had expected it to remain unchanged at 3.2%. It was the highest jobless rate since the three-month period to March 2017. The number of unemployed persons were down by around 1,400 to 124,000 and the number of underemployed was 47,400, the same as in the previous period. Meanwhile, the number of employed fell by 12,800 to 3.82 million and the labour force also decreased by around 14,200 to 3.94 million. The unemployment rate in the consumption and tourism-related sectors stayed at a three-year high of 5.2%, amid continued violence targeting shops and other business activities. Also, a deterioration was seen in the construction sector, especially activities involving decoration, repair & maintenance. The labour market is expected to be subject to even more pressure in the near term if the economy remains weak.
Published on 2020-01-20

Hong Kong Jobless Rate Highest Since 2017
The seasonally adjusted unemployment rate in Hong Kong rose to 3.2 percent in the three months to November 2019 from 3.1 percent in the prior period and above market expectations of 3.1 percent. It was the highest jobless rate since the three months to May 2017. The unemployment rate in the consumption and tourism-related sector increased to a three-year high of 5.2% while in the food and beverage sector, the joblessness rise to 6.2%, the highest in more than eight years. The labour market is expected to remain under pressure as the protests hit the economy and impact tourism and spending.
Published on 2019-12-17

Hong Kong Jobless Rate at Over 2-Year High of 3.1%
The seasonally adjusted unemployment rate in Hong Kong rose to 3.1 percent in the three months to October 2019 from 2.9 percent in the prior period and above market expectations of 2.9 percent. It was the highest jobless rate since the three months to September 2017. The jobless rate is expected to remain under pressure as political unrest and violence continue to take a heavy toll on the economy.
Published on 2019-11-18

Hong Kong Jobless Rate Steady at Over 1-1/2-Year High
The seasonally adjusted unemployment rate in Hong Kong was at 2.9 percent in the three months to September 2019, unchanged from the previous period and in line with market expectations. It remained the highest jobless rate since the three months to March 2018. Also, the underemployment rate held steady at 1 percent.
Published on 2019-10-18

Hong Kong Jobless Rate Flat at 1-1/2-Year High
The seasonally adjusted unemployment rate in Hong Kong stood at 2.9 percent in the three months to August 2019, remaining the highest jobless rate since the three months to March period of 2018. The underemployment rate was unchanged at 1.0 percent, the same as in the previous period.
Published on 2019-09-17

Hong Kong Jobless Rate at 16-Month High of 2.9%
The seasonally adjusted unemployment rate in Hong Kong increased to 2.9 percent in the three months to July of 2019 from 2.8 percent in the previous period. It was the highest jobless rate since the three months to March period of 2018. The underemployment rate was unchanged at 1.0 percent, the same as in the previous period.
Published on 2019-08-19

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 June 2019, remaining the lowest jobless rate since January 1998. Also, the underemployment rate stood at 1.0 percent, the same as in the previous period.
Published on 2019-07-18

Hong Kong Jobless Rate Remains at Over 21-Year Low
The seasonally adjusted unemployment rate in Hong Kong was unchanged at 2.8 percent in the three months to May 2019, remaining at the lowest level since January 1998. Also, the underemployment rate was unchanged at 1.0 percent, the same as in the previous period.
Published on 2019-06-19