November 17, 2023
BEIJING – Hong Kong’s seasonally adjusted unemployment rate increased from 2.8 percent in the July-September period to 2.9 percent in the three months from August, according to labor force statistics released by the government on Thursday.
The underemployment rate remained unchanged at 1.0 percent in the two periods, the Census and Statistics Department said in a statement.
About 1,800 people were newly unemployed during the three-month period, taking the total number to 115,800, the department said.
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Over the same period, the number of underemployed persons decreased by around 1,200 to 36,700, it added.
Movements in the unemployment rate in different industry sectors varied. Relatively notable increases were observed in the manufacturing sector and import and export trade sector, according to the statement.
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Saying that inbound tourism and local consumption would continue to underpin economic growth in the near term, Secretary for Labor and Welfare Chris Sun Yuk-han cautioned: “The labor market should remain tight in the coming months despite some possible negative effects stemming from the difficult external environment.”