Jobless rate holds at 3.7% in May-July

Underemployment edged up to 1.7% during the period.

Hong Kong’s seasonally adjusted unemployment rate remained at 3.7% in May to July, unchanged from the previous three-month period.

The number of unemployed people increased by about 6,000 to 145,700, according to data from the Census and Statistics Department (C&SD).

The May-to-July labour force survey covered about 25,000 households, or 65,000 people.

By sector, the non-seasonally adjusted unemployment rate declined primarily in foundation and superstructure works, whilst increases were recorded mainly in retail and transportation. 

Meanwhile, growth in underemployment was concentrated in the education sector.

C&SD data showed that the overall underemployment rate rose to 1.7% from 1.6% in April to June, whilst the number of underemployed people rose by about 3,800 to 66,200.

Total employment edged up by around 1,500 to 3.65 million, whilst the labour force increased by about 7,500 to 3.79 million.

Secretary for Labour and Welfare, Chris Sun, said the entry of fresh graduates and school leavers into the labour market could put some pressure on unemployment in the coming months.

“The potential impacts of external headwinds on corporate hiring sentiments also continue to warrant attention,” Sun added.

Separately, private sector vacancies fell 12% to 48,610 in March as employment slipped, the C&SD said. 

Food and beverage services posted the largest drop, with vacancies falling by 1,230, or 25%. Education vacancies declined by 980, or 17%.