Unemployment rate widens to 5.2% in February-April

This is the highest figure recorded in over a decade.

Hong Kong’s unemployment rate continued to widen to 5.2% in the three-month period February-April, from 4.2% in January-March, according to data from the Census & Statistics Department (C&SD).

It edged up across almost all the major economic sectors, with more distinct increases observed in the construction sector, retail, accommodation and food services sector, information and communications sector, professional and business services sector, education sector, and arts, entertainment and recreation sector.

The underemployment rate also rose from 2.1% to 3.1% over the same period, led by increases in the decoration, repair and maintenance for buildings sector, retail, accommodation and food services sector, transportation sector, and education sector.

The number of unemployed persons jumped 40,300 in February-April to 202,500. Over the same period, the number of underemployed persons also increased by around 35,800 to 118,600.

“The seasonally adjusted unemployment rate soared by 1 percentage point to 5.2%, the highest in over a decade, said Secretary for Labour and Welfare Dr. Law Chi-kwong.

He added that the unemployment rate of the consumption- and tourism-related sectors combined soared to 9%, the highest in more than 15 years, and the underemployment rate to 5.9%, the highest on record.

Total employment crashed by around 62,600 from 3.72 million in January-March to 3.66 million in February-April. Over the same period, the labour force also dipped by around 22,400 from 3.88 million to 3.86 million.

“The year-on-year declines in total employment and labour force widened further to 5.4% and 3% respectively, both the largest on record,” Chi-kwong stated.