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.”