Hong Kong’s recovery halted as unemployment rate remains high

Hong Kong continues to grapple with the impact of the COVID-19 pandemic, with its recovery threatened by a third wave of infection.
By: | September 17, 2020

Hong Kong’s unemployment rate remained at 6.1% for the June-August period as the country continues to grapple with the impact of the COVID-19 pandemic.

It’s the same figure as that of the May-July period, according to data of the Hong Kong Special Administrative Region (HKSAR) government released on September 17.

Meanwhile, there is an increase in the underemployment rate from 3.5% in the previous three months to a post-SARS high of 3.8% during the June-August period.

The country’s economic and tourism industry has been halted by the global lockdown, and its recovery is now further threatened by a third wave of infection, said Law Chi-kwong, secretary for labour and welfare.

Law added the labour market will remain under pressure in the near term and promised the government will monitor the situation closely and roll out measures as necessary.

The government has rolled out unprecedented economic relief worth more than 300 billion Hong Kong dollars (US$38.7 billion) in total to fight COVID-19 and help businesses and residents weather out the hardships, including measures on job retention and creation.