Unemployment Stays At 2.9%

The seasonally adjusted unemployment rate stood at 2.9% in the January-March quarter, unchanged from the December-February period, the Census & Statistics Department said today.

The underemployment rate also remained unchanged at 1%.

Total employment was 3,872,400, about the same as the December-February quarter. The labour force increased by 5,100 to 3,984,400.

The number of unemployed people rose by 5,200 to 112,100 while the number of underemployed people dropped by 1,400 to 38,900.

Secretary for Labour & Welfare Dr Law Chi-kwong said the labour market remained tight in the first quarter of 2018, with both unemployment and underemployment rates staying at low levels while total employment showed further sturdy growth year-on-year.

"When compared to the preceding three-month period, movements in jobless rates varied across sectors.

"Nevertheless, the unemployment situation improved notably for most of the major service sectors vis-a-vis a year earlier, led by the trade-and tourism-related segments on the back of the positive global economic conditions and sustained recovery in inbound tourism."

He said the labour market will likely remain tight in the near term amid the favourable economic situation, adding the Government will continue to monitor external developments and their potential impact on the local market.