Hong Kong Jobless Rate Steady at 2.9%

The seasonally adjusted unemployment rate in Hong Kong remained unchanged at 2.9 percent in the three months to February of 2018, the same as in the two previous periods.

Comparing to the previous three-month period, the number of unemployed persons was almost the same at 106,900 in December 2017 - February 2018 and the number of underemployed also remained barely unchanged at 40,300. Among sectors, despite the changes in individual jobless rates were minimal compared to the preceding three-month period, the unemployment situation continued to improve notably across many service sectors, particularly for tourism-related industries such as retail and accommodation services amid the further recovery in inbound tourism.

Meantime, total employment increased by around 10,300 to 3.872 million in the three months to February, and the labour force went up by 10,600 to 3.979 million.

Looking ahead, "The labour market will likely remain tight in the near term on the back of generally positive local economic sentiment. We will continue to monitor the situation closely.", the Secretary for Labour and Welfare, Dr Law Chi-kwong, said. 

Hong Kong Jobless Rate Steady at 2.9%

Census and Statistics Department | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
3/19/2018 9:30:02 AM