Hong Kong Jobless Rate Steady at Over 1-1/2-Year High

The seasonally adjusted unemployment rate in Hong Kong was at 2.9 percent in the three months to September 2019, unchanged from the previous period and in line with market expectations. It remained the highest jobless rate since the three months to March 2018. Also, the underemployment rate held steady at 1 percent.

On a non-seasonally adjusted basis, the number of unemployed persons fell slightly by 300 to 120,300 in July-September 2019 when compared with the prior period, and the number of underemployed was 41,500, about the same as that in June-August 2019 (41,000). The unemployment situation in different industry sectors varied. A relatively notable decrease was observed in the information and communications 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 declined by around 9,000 to 3,855 thousand and the labour force participation rate fell to 60.5 percent from 60.6 percent.

Looking ahead,"Worsened economic conditions will put increasing pressure on the local labour market in the near term. The Government will monitor the developments closely", Dr Law Chi-kwong said. 

Hong Kong Jobless Rate Steady at Over 1-1/2-Year High

Census and Statistics Department | Stefanie Moya | stefanie.moya@tradingeconomics.com
10/18/2019 8:47:33 AM