Joblessness drops to 3.8% between August and October
The total number of unemployed people stands at 147,400.
The unemployment rate fell by 0.1 percentage points to 3.8% between August and October when compared to the July to September period.
Based on the data from the Census & Statistics Department (C&SD), the total number of unemployed people between August and October was 147,400, a drop of around 7,900 from the preceding three-month period.
The number of underemployed individuals likewise dropped by 5,600 to 63,400, translating to a rate of 1.7%.
The decreases in the unemployment and underemployment rates were seen across the decoration, buildings, retail, and food and beverage service activities sectors.
With the decrease in the number of unemployed and underemployed, employment and labour force rose by 19,700 to 3,648,600, and by11,800 to 3,796,000, respectively.
Secretary for Labour & Welfare Law Chi-kwong said the improvement of Hong Kong’s labour market was on the back of the revival of domestic economic activities.
“Looking ahead, the short-term outlook for the labour market will depend on the performance of domestic economic activities," the secretary said.
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