Hong Kong’s unemployment rate falls to a 12-month low
Data from the Hong Kong Census and Statistics Department (HKCSD) showed that the unemployment rate fell to 6.0% in May – the lowest in 12 months.
The unemployment rate has fallen for three straight months from a high of 7.2% in February.
Total employment rose by about 8,400 to 3.630 million in the March-to-May period over the preceding three-month period, while the number of unemployed persons fell by 14,200 to 233,300.
Over the same period, the number of underemployed persons also decreased by around 19,200 from 126,600 to 107,400. The unemployment rate fell across almost all the major economic sectors, particularly in the construction, retail, accommodation, and food sectors.
The decrease in underemployment rate was seen mainly in the retail, accommodation and food services sector; transportation sector; and arts, entertainment and recreation sectors.
Secretary for labour and welfare Law Chi-kwong said, “As the economy continues to recover, the pressure on the labour market should gradually ease, especially if the local epidemic remains well contained.”
Law added that looking ahead, the recovery will be uneven across sectors, with the evolving global pandemic being the key source of uncertainty. As such, the unemployment rates in some sectors may take a longer time to return to pre-pandemic levels.