Hong Kong Unemployment Rate Up to 3.2%

Hong Kong seasonally adjusted jobless rate edged up by 0.1 percentage point to 3.2 percent in April to June 2014, after remaining unchanged at 3.1 percent for five consecutive months. However, employment sustained mild year-on-year growth and stayed close to its historical high.
Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com 7/17/2014 10:27:41 AM
The number of unemployed persons (not seasonally adjusted) increased by around 5 300 from 120 900 in March - May 2014 to 126 200 in April - June 2014. Over the same period, the number of underemployed persons decreased by around 1 800 to 58 000. 

Comparing April - June 2014 with the previous period, an increase in the unemployment rate (not seasonally adjusted) was mainly observed in the cleaning and similar activities sector. As to the underemployment rate, an increase was mainly observed in the decoration, repair and maintenance for buildings sector while decreases were seen in the foundation and superstructure works of the construction sector, and the food and beverage service activities sector.

Total employment increased by around 4 800 from 3 743 800 in March - May 2014 to 3 748 600 in April - June 2014. Over the same period, the labour force also increased by around 10 100 from 3 864 700 to 3 874 800.

On the short-term outlook, the Secretary for Labour and Welfare said that while the overall unemployment rate has stayed at a relatively low level lately, the recent deceleration in the local consumption market, as well as the increased labour supply from the new batch of fresh graduates and school leavers, may progressively pose some pressure on the labour market. 

Hong Kong Unemployment Rate Up to 3.2%