According to the latest data from the Statistics Department, Hong Kong’s unemployment rate dropped for two months in a row to 4.7% meaning that around 178,000 of the city’s workforce are still struggling to find work.
The number of unemployed citizens fell by around 12,800 while that of the underemployed declined by around 18,800 to 111,600 in the April – June period — a decline from 3.5% to 3%. All major economic sectors saw the unemployment and underemployment rate decrease according to the department. Retail, accommodation and food services fell visibily by 1.4% during the three month period.
The new Secretary for Labour and Welfare, Chris Sun Yuk-han said the labour market improved during April to June amid the moderating local epidemic situation and due to the relaxation of social distancing measures. “As domestic economic activities continue to review, the labour market is likely to improve further in the near term, but the extent of improvement would depend on the local situation as well as global and local financial conditions,” said Sun.
Paul Arkwright
Publisher
