Jobless rate drops to 5.5% in June as economy rebounds
This is the fourth consecutive month that the unemployment rate declined.
The unemployment rate in Hong Kong declined to 5.5% between April and June from 6% in the preceding three-month period as the city recovers from the economic crisis.
The number of unemployed dropped by 20,200 to 213,100 in April to June from 233,300 in March to May, the Census and Statistics Department reported.
The unemployment rate across major economic sectors also decreased, particularly in the construction sector, import/export trade and wholesale sector, retail, accommodation, and food services, as well as arts, entertainment, and recreation.
"The labour market showed further improvement as the economy continued to recover alongside the stabilisation of the local epidemic situation and the improved external environment,” Secretary for Labour and Welfare Law Chi-kwong said.
“The seasonally adjusted unemployment rate fell by 0.5 percentage point from March to May 2021 to 5.5% in April to June 2021, the fourth consecutive moving three-month period that registered a decline.”
The underemployment rate over the same period decreased to 2.5% in June from 2.8% in May. The number of underemployed went down by around 11,400 to 96,000 from 107,400.
Decreases were particularly seen in the decoration, repair, and maintenance for the buildings sector; and the retail, accommodation, and food services sector.
"The labour market should improve further with the continued economic recovery. The Consumption Voucher Scheme will also help,” Law also said.
“To create a solid foundation for a full-fledged revival of economic activities and hence a continued recovery of the labour market, it is essential for the community to actively participate in the COVID-19 Vaccination Programme.”
On top of the e-voucher scheme and the vaccine rollout in Hong Kong, the Department has launched the fourth tranche of the Love Upgrading Special Scheme this July until the end of the year.
The scheme, launched in October 2019, provided training and allowances to participants who were affected by economic downturns. The fourth tranche has benefitted additional 20,000 trainees.