Unemployment rate stays at 3.1%

The underemployment rate also stayed steady at 1.1%.

The unemployment rate in Hong Kong remained at 3.1% for the period of October to December 2024, consistent with the rate for September to November 2024. The underemployment rate also stayed steady at 1.1%.

Total employment rose by 7,100 to 3,718,900, whilst the labour force increased slightly by 900 to 3,832,400. The number of unemployed persons decreased by 6,100, from 119,700 to 113,600. However, the number of underemployed persons grew by 1,800, from 41,700 to 43,500.

Labour and Welfare Secretary Chris Sun pointed out that several sectors, including manufacturing, finance, social work, and arts and entertainment, saw a decline in unemployment rates compared to the previous period.

Looking ahead, he predicted the labour market would remain stable in the short term but cautioned that global uncertainties could affect employment in certain sectors.