Hong Kong Jobless Rate Unchanged at 21-Year Low

The seasonally adjusted unemployment rate in Hong Kong stood at 2.8 percent in the three months to January 2019, remaining the lowest jobless rate since January 1998. The underemployment also remained unchanged at 1.1 percent in the November-January period.

On a non-seasonally adjusted basis, the number of unemployed persons dropped by 3,600 to 101,800 in November-January 2019 when compared with the prior period, ant the number of underemployed declined by 2,300 to 42,200 persons. On a yearly basis, the unemployment situation continued to improve for many of the main services sector, mainly in the retail, accommodation and food services sectors, amid the expansion in inbound tourism.

On the other hand, the number of employed was at 3,873 thousand, the same as in the previous three-month period and the labour force participation rate decreased to 60.8 percent from 60.9 percent in the prior period. 

Looking ahead, "While the labour market will likely remain tight in the near term, the employment outlook for the rest of 2019 will hinge on how the various external uncertainties evolve. The Government will stay vigilant and monitor the developments closely.” the Secretary for Labour and Welfare, Dr Law Chi-kwong, said. 

 Hong Kong Jobless Rate Unchanged at 21-Year Low

Census and Statistics Department | Stefanie Moya | stefanie.moya@tradingeconomics.com
2/21/2019 9:07:37 AM