Hong Kong Jobless Rate Flat at 1-1/2-Year High of 2.9%

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.

On a non-seasonally adjusted basis, the number of unemployed persons increased by around 2,00 to 120,600 in June-August 2019 when compared with the prior period, while the number of underemployed was 41,000, about the same as that in May-July 2019 (40,700). The unemployment situation in different industry sectors varied. A relatively notable decrease was observed in the construction sector, while an increase was mainly seen in the food and beverage service activities sector. Movements in the underemployment rates in different industry sectors also varied, but were generally small in magnitude.

Meantime, the number of employed decreased by around 3,600 to 3,864 thousand and the labour force participation rate went down to 60.6 percent from 60.7 percent.

Looking ahead, "As economic conditions have deteriorated further lately, the local labour market will unavoidably be subject to increasing pressure in the near term. The Government will monitor the labour market closely." the Secretary for Labour and Welfare, Dr Law Chi-kwong, said. 

Hong Kong Jobless Rate Flat at 1-1/2-Year High of 2.9%

Census and Statistics Department | Agna Gabriel | agna.gabriel@tradingeconomics.com
9/17/2019 8:57:02 AM