Hong Kong Jobless Rate Steady For 3rd Month

The seasonally adjusted unemployment rate in Hong Kong stood at 3.1 percent in the three month to August of 2017, unchanged from the previous two periods. It remains the lowest jobless rate since February of 2014. The underemployment rate also remained unchanged at 1.1 percent, the lowest level in almost two decades.
Census and Statistics Department | Luisa Carvalho | luisa.carvalho@tradingeconomics.com 9/18/2017 9:06:22 AM
Compared to the three months to July, the number of unemployed persons (not seasonally adjusted) increased by around 1,800 to 130,000 and the number of underemployed also grew by 900 to 45,200.

Despite small movements in the unemployment rates of most of the major economic sectors when compared to the preceding three-month period, the unemployment rates of many sectors were generally lower than their year-ago levels. In particular, the tourism-related segment (retail, accomodation and food services), which stood at 4.6 percent, the lowest since the end 2015.

Total employment rose by around 7,700 to 3.8412 million and the labour force also went up to 3.9712 million from 3.9617 million in May-July 2017.

Looking ahead, the Secretary for Labour and Welfare said "While overall labour market conditions are expected to remain tight in the near term, we will stay vigilant to the potential impact of various external uncertainties".

Hong Kong Jobless Rate Steady For 3rd Month