Hong Kong Jobless Rate Lowest Since 1998

The seasonally adjusted unemployment rate in Hong Kong was unchanged at 2.9 percent in the three months to March of 2018, the same as in each of the previous three periods. It remains the lowest rate since 1998.

On a non-seasonally adjusted basis, the number of unemployed persons increased by 5,200 to 112,100 in January - March 2018 and compared with the previous period, while the number of underemployed dropped by around 1,400 to 38,900. Although the variation in jobless rates diverges among sectors, the unemployment situation improved notably for most of the main service sectors, particularly for trade and tourism-related industries amid positive global economic conditions and further recovery in inbound tourism.

Meantime, total employment in the first quarter of 2018 was about the same as in the three months to February (3,872,400 persons), and the labour force went up by around 5,100 to 3,979,300.

Looking ahead, "In the near term, labour market conditions will likely remain tight amid the generally favourable economic situation. Nevertheless, we will stay tuned to various external developments and their potential impact on the local labour market.", the Secretary for Labour and Welfare, Dr Law Chi-kwong, said. 

Hong Kong Jobless Rate Lowest Since 1998

Census and Statistics Department | Gabriela Costa | gabriela.costa@tradingeconomics.com
4/19/2018 9:55:49 AM