, Hong Kong

Unemployment rate down to 3.1% in March

The underemployment rate also dipped by 0.1 percentage points to 1.2%.

The unemployment rate in Hong Kong decreased to 3.1% from January to March 2023 from 3.3% from December 2022 to February 2023, according to the Census and Statistics Department.

Total employment rose by around 3,900 during the period to reach around 3.65m.

Meanwhile, the underemployment rate was down to 1.2% from January to March 2023 from 1.3% in the three months to February 2022. 

Not seasonally adjusted, the department said the movement in the unemployment rate varied across different sectors, with notable decreases observed in the decoration, repair and maintenance of buildings sector. 

The unemployment rate of the retail sector and the accommodation services sector both declined by 0.1 percentage points to 3.8%. On the other hand, the food and beverage service activities sector slightly rose by 0.1 percentage point to 4.9% “after successive periods of decline over the past year or so.”

Underemployment, meanwhile, was observed mainly in the wholesale sector.

"The labour market continued to improve,” said Secretary for Labour and Welfare Chris Sun.

"The labour market should improve further alongside the continued revival of domestic economic activities and inbound tourism. The disbursement of the new batch of consumption vouchers beginning this month will also help," Sun added.

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