Hong Kong Unemployment Rate Up to 3.3%

Hong Kong seasonally adjusted unemployment rate edged up by 0.1 percentage point to 3.3 percent in May to July 2015, compared with previous period. The underemployment rate remained unchanged at 1.4 percent in the two periods.

The number of unemployed persons (not seasonally adjusted) in May - July 2015 increased by around 4 200 to 134 100 from April - June 2015 (129 900). Over the same period, the number of underemployed persons increased by around 800 from 55 600 to 56 400.

The unemployment rate (not seasonally adjusted) increased in the arts, entertainment and the recreation sector, and the transportation sector. As to the underemployment rate, an increase was mainly observed in the arts, entertainment and the recreation sector.

Total employment increased by around 6 200 from 3 791 600 in April - June 2015 to 3 797 800 in May - July 2015. Over the same period, the labour force also increased by around 10 400 from 3 921 500 to 3 931 900.

On the short-term outlook, the Secretary for Labour and Welfare said "The near-term labour market outlook will continue to hinge crucially on the overall economic situation. However, a number of external and domestic uncertainties, including notably the impending U.S. interest rate lift-off, gyrations in global financial markets, as well as the weak trend in inbound tourism continue to warrant concerns. We will stay vigilant and closely monitor developments, in particular the employment situation of grassroots workers."

Hong Kong Unemployment Rate Up to 3.3%

Census and Statistics Department | Yekaterina Guchshina | yekaterina@tradingeconomics.com
8/18/2015 12:44:12 PM