Hong Kong Jobless Rate Lowest Since 2014
The seasonally adjusted unemployment rate in Hong Kong declined to 3.2 percent in the three months to March 2017, from 3.3 percent in the previous period. It was the lowest jobless rate since June of 2014. The underemployment rate remained unchanged at 1.2 percent.
Compared to the three months to February, the number of unemployed persons (not seasonally adjusted) increased by around 5 600 to 125 000 and the number of underemployed remained unchanged at 49 000.
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Employment decreased by around 2 000 to 3 822 400 and while the labor force increased by around 3 600 to 3 947 400.
While there were only small movements in the unemployment rates of most of the major economic sectors when compared to the preceding three-month period, the unemployment rates of many sectors were generally lower than their year-ago levels amid the relatively favourable overall economic conditions on entering 2017. Specifically, thanks to the continued improvement of inbound tourism, the unemployment rates for all individual sectors in the consumption- and tourism-related segment (viz. retail, accommodation and food services) went down in January - March 2017 over the preceding period as well as a year earlier.