Unemployment rate largely unchanged at 3% from August to October

The underemployment rate similarly went unchanged at 1.1%.

Unemployment rate in Hong Kong for August to October has declined by 1 percentage point to 3% from July-September’s 3.1%, according to latest labor force statistics from Census and Statistics Department.

The decrease in unemployment was largely attributed to the financing and the import and export trade sectors.

Total employment from August to October was largely unchanged at 3 837 100 from 3 837 400 in July – September.

Meanwhile, underemployment remained unchanged at 1.1% in the two periods.

"Many economic sectors saw a decline in unemployment rate over the preceding three-month period. On a year-on-year comparison, the improvement in unemployment situation across different sectors was even more apparent," said secretary for labour and welfare Dr Law Chi-kwong.