Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

Hong Kong jobless rate likely remained unchanged at 2.8 pct in December, labor market to have stayed tight

Given the Hong Kong economic growth of 3.5 percent in the first to third quarter of last year, the labor market is expected to have remained tight in December, noted DBS Bank in a research report. Rebound in inbound tourism and domestic consumption are expected to underpin the labor market.

The seasonally-adjusted jobless rate is likely to have remained at a 20-year low of 2.8 percent. The possible repercussion from the Sino-US trade friction warrant concern. The demand for labor, of which 11.6 percent comes from the import/export trade and wholesale sectors is expected to decelerate. Furthermore, lately, the Hang Seng Index dropped to 25,000 from its year-high of 33,000 points.

“The negative wealth effect to the local spending sentiment might blow headwinds to the retail sector as well as the labor market”, added DBS Bank.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.