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Unemployment rate drops to 3.3% 

There were 115,700 unemployed from December 2022 to February 2023.

Hong Kong’s jobless rate for December 2022 to February 2023 period was 3.3%, falling 0.1 percentage points from November 2022 to January 2023 period.

Based on the data from the Census & Statistics Department (C&SD), the total number of unemployed people between December 2022 and February 2023 was 115,700, a drop of around 2,700 from the preceding three-month period.

The number of underemployed individuals likewise dropped by 4,200 to 47,900 translating to a rate of 1.3%.

The decreases in the unemployment and underemployment rates were seen across consumption- and tourism-related sectors, particularly in the transportation, and the arts, entertainment and recreation segments.

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Despite the decrease in the number of unemployed and underemployed, employment and labour force still fell by 12,000 to 3,650,200, and by 14,600 to 3,766,000, respectively.

Secretary for Labour & Welfare Law Chi-kwong said the “labour market conditions should improve further in the near term alongside the continued return of economic activities to normalcy and the rebound in inbound tourism.”

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