103 views
Photo by Jordan Merrick on Unsplash

Unemployment rate drops to 3.1% 

There were 115,100 unemployed from January to March.

Hong Kong’s jobless rate for the January to March period was 3.1%, falling 0.2 percentage points from December 2022 to February 2023 period.

Based on the data from the Census & Statistics Department (C&SD), the total number of unemployed people between January to March was 115,100, a drop of around 600 from the preceding three-month period.

The number of underemployed individuals likewise dropped, decreasing by 1,200 to 46,700 translating to a rate of 1.2%.

“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%. The unemployment rates of other sectors showed diverse movements. The decoration, repair and maintenance for the buildings sector and the wholesale sector saw declines in unemployment rates,” C&SD reported.

Given the decrease in the number of unemployed and underemployed, employment and labour force increased by 3,900 to 3,654,100, and by 3,200 to 3,769,200, respectively.

Secretary for Labour & Welfare Law Chi-kwong said the “labour market should improve further alongside the continued revival of domestic economic activities and inbound tourism, adding that the disbursement of the new batch of consumption vouchers beginning this month will also help.”
 

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Bank of East Asia unveils mobile app with personalised interface
Users can create shortcuts for frequently performed tasks and can avail of rewards.
GHG emissions tools launched in HK
These tools will assist SME and financial firms in the city with sustainability reporting.
Energy & Offshore

Exclusives

HK scraps MPF Offsetting Scheme to enhance employee protection
Starting 2025, employers are no longer allowed to offset long service and severance payments from its Mandatory Provident Fund contributions.