Hong Kong's jobless rate rose by 0.1 percentage point over the past three months to 3.9 percent, with unemployment increasing in the insurance, construction, and finance sectors. Labour authorities remain optimistic, stating that the growing economy will support the job market.
Hong Kong's jobless rate edged up by 0.1 percentage point over the past three months to 3.9 percent, after holding steady since the August to October period last year. Provisional figures released by the Census and Statistics Department on Friday showed the unemployment rate for the November to January period rose by 0.1 percentage point compared with the October to December stretch, returning to the 3.9 percent level reported in the July to September period last year.
Unemployment increased in the insurance, construction, and finance sectors. The underemployment rate remained unchanged at 1.7 percent.
Secretary for Labour and Welfare Chris Sun Yuk-han noted that the jobless rate was “broadly on a par” with the level in the preceding three-month period. “The sustained growth momentum of the Hong Kong economy should help buttress the overall labour market,” he said.
Labour authorities expressed optimism, saying the growing economy would support the job market going forward. The rate had been stable since last year's August to October period until this recent slight increase.
