Unemployment steady at 2.9% in November-January

This translates to 106,600 unemployed persons.

Total unemployment rate remained steady at 2.9% YoY to 106, 600 in the November 2017 to January 2018 quarter, according to latest employment statistics from the Census & Statistics Department.

This is a slight improvement from the October to December quarter which registered 109,800 unemployed persons.

Secretary for Labour and Welfare Dr Law Chi-kwong noted that changes in individual jobless rates were minimal amidst improving business conditions.

“Nevertheless, unemployment situation improved notably across many major service sectors on a year-on-year comparison, led by tourism-related industries such as retail and accommodation services amid the further recovery in inbound tourism, as well as the financing, and professional and business services (excluding cleaning and similar activities) sectors on the back of strong economic conditions,” he said. 

Underemployment, on the other hand, dipped to 1% In the November 2017 – January 2018 quarter largely thanks to decrease in the construction sector.