Hong Kong Unemployment Rate Stable at 3.3% In September

In September of 2013, seasonally adjusted jobless rate remained steady at 3.3 percent for the fourth consecutive month. Total employment sustained a year-on-year growth at 2.7 percent, meaning continuous full employment and translating into a cumulative increase of 100 000 jobs over the past year.

The number of unemployed persons (not seasonally adjusted) decreased by around 1 600 from 135 800 in June - August of 2013 to 134 200 in July - September of 2013.  Over the same period, the number of underemployed persons also decreased by around 1 400 to 57 000.

Increases in the unemployment rate (not seasonally adjusted) were mainly observed in the information and communications, and social work activities sectors, while decreases were mainly seen in the construction and accommodation services sectors.  As to the underemployment rate, increases were mainly observed in the food and beverage service activities, and construction sectors, while decreases were mainly seen in the arts, entertainment and recreation, and cleaning and similar activities sectors.

Total employment decreased by around 1 100 to 3 750 100 in July - September of 2013. 

On the short-term outlook, the Secretary for Labor and Welfare, Mr Matthew Cheung Kin-chung, said “In the light of the generally positive hiring attitude in the corporate sector, the unemployment rate will likely stay at relatively low levels in the near term.  Yet the external environment remains unsteady, with uncertainties arising from the United States' future monetary policy direction and its political brinkmanship over fiscal issues clouding over the global economic prospects”. 

Hong Kong Unemployment Rate Stable at 3.3% In September

Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
10/17/2013 10:02:08 AM