Hong Kong Jobless Rate Lowest In Over 3 Years


The seasonally adjusted unemployment rate in Hong Kong decreased to 3.1 percent in the three months to June of 2017, from 3.2 percent in the previous period. It was the lowest jobless rate since February of 2014. The underemployment rate remained unchanged at 1.2 percent.

Compared to the three months to May, the number of unemployed persons (not seasonally adjusted) declined by around 1,100 to 125,200 and the number of underemployed also fell by 2,100 to 45,500.

By sectors, a decrease in unemployment was mainly seen in the decoration, repair and maintenance for buildings sector and the arts, entertainment and recreation sector.

Total employment increased by around 4,200 to 3.8221 million and the labour force went up to 3.9472 million from 3.9442 million in March - May 2017.

On the short-term outlook, the Secretary for Labour and Welfare said "In the near term, the overall labour market conditions are expected to remain favourable on the back of sturdy labour demand. Yet, we will stay vigilant and closely monitor how the various external uncertainties evolve and affect the local economy down the road."

Statistics of Hong Kong | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
7/18/2017 9:28:38 AM