Hong Kong Unemployment Rate Flat at 3.3%


The seasonally adjusted unemployment rate in Hong Kong stood at 3.3 percent in the three months to January of 2017, the same as in the previous two periods. The underemployment rate decreased to 1.3 percent from 1.4 percent in October-December 2016. The jobless rate benefited from the relative improvement of inbound tourism in the more recent periods and the usually more buoyant business activities in the run-up to the Lunar New Year.

On a non-seasonally adjusted basis, the number of unemployed persons fell by around 2.8 thousand to 119.2 thousand. Decreases were mainly seen in the food and beverage service activities sector and the repair, laundry, domestic and other personal service activities sector. As to the underemployment rate, a decline was mainly seen in the foundation and superstructure works of the construction sector. Employment rose by 14.1 thousand to 3.831 million and the labour force participation rate increased to 61.1 percent from 60.9 percent.

The labour market is expected to remain generally tight in the near term. The employment outlook still hinges on the play-out of various external uncertainties surrounding the local economy down the road. 

Hong Kong Unemployment Rate Flat at 3.3%


Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
2/20/2017 11:18:18 AM