Hong Kong Jobless Rate Steady at Over 21-Year Low

The seasonally adjusted unemployment rate in Hong Kong was unchanged at 2.8 percent in the three months to June 2019, remaining the lowest jobless rate since January 1998. Also, the underemployment rate stood at 1.0 percent, the same as in the previous period.

On a non-seasonally adjusted basis, the number of unemployed persons rose by 200 to 114,300 in April-June 2019 when compared with the previous period and the number of underemployed advanced by around 2,000 to 41,200 persons. On a yearly basis, the unemployment situation was broadly steady in most economic sectors. However, unemployment in foundation and superstructure works of the construction sector increased over the past year and the jobless rate in the import and export trade sector also rose over a year earlier amid weaker trade flow.

Meantime, the number of employed went up by 1,600 to 3,869 thousand and the labour force participation rate was steady at 60.7 percent. 

Looking ahead, "The labour market is expected to remain largely stable in the near term. The Government will stay vigilant to how a softer economic environment and other unfavourable factors will affect the local labour market going forward." the Secretary for Labour and Welfare, Dr Law Chi-kwong, said. 

 Hong Kong Jobless Rate Steady at Over 21-Year Low

Census and Statistics Department | Stefanie Moya | stefanie.moya@tradingeconomics.com
7/18/2019 8:47:36 AM