Unemployment Rises To 3.3%

The seasonally adjusted unemployment rate was 3.3% in the period between October and December, up from 3.2% for the September-November period, the Census & Statistics Department announced today.

The underemployment rate remained at 1.2% in the October-December period.

Total employment dropped by 12,800 to 3,817,800 and the labour force decreased by 14,200 to 3,941,800.

There were 124,000 unemployed people, a decrease of 1,400 from the September-November period, while the number of underemployed stayed about the same at 47,400.

Secretary for Labour & Welfare Dr Law Chi-kwong said the labour market slackened further as economic conditions stayed weak.

The unemployment rate of the consumption and tourism-related segment of retail, accommodation and food services sectors stayed at a three-year high of 5.2%.

The under-employment rate of these sectors rose visibly when compared to the preceding period, particularly for those working in food and beverage service activities.

The unemployment rate of the construction sector also deteriorated visibly.

“The labour market will be subject to even more pressure in the near term if the overall economy stays weak. The Government will monitor the developments closely,” Dr Law added.