Hong Kong’s jobless rate ticks up to 3.0% in July quarter

Hong Kong’s seasonally adjusted unemployment rate in stood at 3.0% in the period from May to July 2024, up slightly from 2.8% during the same period a year ago and the same as that in April to June 2024, according to the latest labour force statistics published by the Census and Statistics Department.

The number of unemployed persons (not seasonally adjusted) increased by around 3,100 from 114,700 in April to June 2024 to 117,800 in May to July 2024. Over the same period, the number of underemployed persons also increased by around 3,000 from 44,500 to 47,500. The 117,800 figure compared to 111,700 in May to July 2023.

At the same time, total employment increased by around 5,300 from 3,703,300 in April to June 2024 to 3,708,600 in May to July 2024. Over the same period, the labour force also increased by around 8,400 from 3,818,000 to 3,826,400.

Secretary for Labour and Welfare, Chris Sun, said in a press release, “The employment situation of the consumption-related sectors might be under some pressure, due to the challenges from the changing consumption patterns of residents and visitors. Nonetheless, the overall labour market should remain tight in the near term as continued economic growth renders support to labour demand.”