Hong Kong jobless rate remains unchanged at 2.8 pct, labor market to remain tight in near-term

The latest labor force statistics released by the Census and Statistics Department showed that the seasonally adjusted jobless rate of Hong Kong remained unchanged at 2.8 percent in the September to November 2018 period, same as that in August to October 2018 period. The underemployment rate also stayed the same at 1.2 percent in the two periods.

Comparing with August to October 2018, movements in the jobless rate and underemployment rate in different industry sectors varied, but were generally small in magnitude. Total employment fell by around 5,400 from 3,872,600 in August - October 2018 to 3,867,200 in September - November 2018. The labor force, in the same period, also dropped by about 10,600 from 3,988,600 to 3,978,000.

The number of unemployed persons fell by about 5,200 to 110,800. The number of underemployed persons also fell in the same period by about 800 t0 45,900.

Looking ahead, the labor market might stay tight in the near term, said Secretary for Labour and Welfare, Dr Law Chi-kwong.

“Yet, the employment outlook further down the road will hinge on the impacts of the various external headwinds on the local economy. The Government will stay vigilant and monitor the situation closely”, added Dr Law Chi-kwong.