Hong Kong Jobless Rate Stable at 3.3%


Hong Kong seasonally adjusted unemployment rate remained steady at 3.3 percent for the sixth straight period in October to December 2014. Both total employment and the labor force kept growing moderately over a year earlier.

Comparing October - December 2014 with September - November 2014, increases in the unemployment rate (not seasonally adjusted) were observed in the information and communications, and real estate sectors, while decreases were seen in the retail, and food and beverages service sector. As to the underemployment rate, increases were observed in the decoration, repair and maintenance for buildings sector while a decrease was seen in the cleaning and similar activities sector.

The number of unemployed persons (not seasonally adjusted) decreased by around 4 300 from 126 400 in September - November 2014 to 122 100 in October - December 2014. Over the same period, the number of underemployed persons increased by around 600 from 62 q00 to 62 700. 

Total employment in October - December 2014 increased by around 17 800 from 3 779 400 in September-November 2014 to 3 797 200 in October-December 2014. Over the same period, the labor force also increased by around 13 500 from 3 905 900 to 3 919 400.

The Secretary for Labor and Welfare said, "the end of the 'Occupy Movement', the usually more vibrant business activity in the run-up to Christmas, together with the more stable consumer sentiment and notable growth in inbound tourism conceivably rendered support for the employment market."

For full year of 2014, the Secreatary added, both the labor force and total employment grew further by 0.7 percent and 0.9 percent respectively. Meanwhile, the annual unemployment rate edged down from 3.4 percent in 2013 to 3.2 percent in 2014.

Hong Kong Jobless Rate Stable at 3.3%


Census and Statistics Department l Rida Husna l rida@tradingeconomics.com
1/19/2015 9:10:25 AM