Unemployment rate up 3.5% from March to May

The underemployment rate also inched up to 1.4%.

Hong Kong’s unemployment rate rose to 3.5% in the March to May period, up 0.1 percentage point from the previous three months, according to the Census and Statistics Department.

The underemployment rate also increased from 1.3% to 1.4%.

Total employment fell by 12,400 to 3.66 million, whilst the labour force dropped by 6,000 to 3.80 million.

Meanwhile, the number of unemployed people rose by 6,400 to 135,800, and underemployed workers increased by 6,000 to 53,600.

Labour Secretary Chris Sun said slower job creation was due to industry changes and weak external conditions. He warned that the entry of new graduates in the coming months could put further pressure on the job market.

Still, he noted that Hong Kong’s economy is growing, with full-year GDP expected to expand by 2% to 3%.

The rise in newly registered local and foreign firms could help support employment, he added.