April 25, 2023
HONG KONG – Hong Kong’s seasonally adjusted unemployment rate decreased to 3.1 percent in the January-March period from 3.3 percent in the period from December 2022 to February 2023, official data showed on Monday.
The underemployment rate also fell from 1.3 percent to 1.2 percent, according to the Census and Statistics Department said in a statement.
The labor market should improve further alongside the continued revival of domestic economic activities and inbound tourism.
Chris Sun, Secretary for Labour and Welfare, HKSAR
Total employment increased by about 3,900 to 3,654,100 while the labor force also rose by around 3,200 to 3,769,200.
There were 115,100 unemployed people from January to March 2023, a drop of around 600 from the preceding period. The number of underemployed went down by around 1,200 to 46,700, according to the statement.
The combined unemployment rate of the consumption and tourism-related sectors fell 0.1 percentage points from the preceding three-month period to 4.2 percent.
The unemployment rates of other sectors showed diverse movements. The decoration, repair and maintenance for buildings sector and the wholesale sector saw declines in unemployment rates.
Speaking about the labor market, Secretary for Labour and Welfare Chris Sun Yuk-han said: “The labor market should improve further alongside the continued revival of domestic economic activities and inbound tourism.”
The disbursement of the new batch of consumption vouchers beginning this month will also help, he added.