Jobless rate up to 2.9% in May to July 2019

This translates to an additional 3,300 unemployed people.

The unemployment rate inched up to 2.9% during the period of May to July from 2.8% in April to June 2019, according to the Census and Statistics Department (C&SD).

Also read: Jobless rate unchanged at 2.8% in Q2

C&SD noted a relative increase in unemployment at the food and beverage service activities sector; whilst movements in the underemployment rate in different sectors also varied, but were “generally small in magnitude.”

Total employment decreased by around 3,300 to more than 3.86 million May to July from 3.87 million in April to June. However, the labour force in May to July remained similar with April to June 2019 at 3.98 million.

Meanwhile, the number of unemployed persons (not seasonally adjusted) increased by around 4,200 to 118,500 in May to July from 114,300 in April to June.

The underemployment rate between the two periods remained unchanged at 1% which translates to around 40,700 individuals, marginally lower than the 41,200 in April to June. 

Also read: Voluntary turnovers rates in tech hit 13.9% in Q2

“As the consumption market stayed soft, the unemployment rate of the retail, accommodation and food services sectors taken together went up from the preceding three-month period. Also, the import and export trade sector has been facing increasing pressure amid shrinking trade flows, with the unemployment rate generally on the rise since early this year,” Dr. Law Chi-kwong, Secretary for Labour and Welfare said in a statement.

"As the economy is expected to stay weak in the coming months, the local labour market will inevitably be subject to greater pressure," he added.