Hong Kong Unemployment Rate Edges Down in January


The seasonally adjusted unemployment rate decreased from 3.2 percent in October - December 2013 to 3.1 percent in November 2013 - January 2014. It is the lowest jobless rate in almost 16 years, as total employment hit a fresh new high due to the Lunar New Year, while the number of unemployed persons declined for the fifth consecutive month.

The underemployment rate also decreased from 1.4 percent to 1.3 percent and youth jobless rate went down by 1.3 percentage points from 8.8 percent to 7.5 percent.

Comparing November 2013 - January 2014 with October - December 2013, decreases in the unemployment rate (not seasonally adjusted) were mainly observed in the food and beverage service activities, and postal and courier activities sectors. As to the underemployment rate, decreases were mainly seen in the construction, and cleaning and similar activities sectors. 

The number of unemployed persons (not seasonally adjusted) decreased by around 5 500 from 118 400 to 112 900. The number of underemployed persons also decreased by around 4 000 from 55 500 to 51 500.

Total employment increased by around 4 400 from 3 760 400 in October - December 2013 to 3 764 800 in November 2013 - January 2014. Over the same period, the labor force decreased by around 1 100 from 3 878 800 to 3 877 700.

Hong Kong Unemployment Rate Edges Down in January


Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
2/18/2014 10:39:22 AM