2023.03.1609:04:00UTC+00Hong Kong Jobless Rate Lowest Since Late 2019

Hong Kong's unemployment rate decreased further to the lowest level in more than three years, the labor force statistics from the Census and Statistics Department showed on Thursday.

The seasonally adjusted unemployment rate fell slightly to 3.3 percent in the December to February period from 3.4 percent in the November to January period.

Further, this was the lowest unemployment rate since the October to December period in 2019, when it was also 3.3 percent.

The underemployment rate edged down to 1.3 percent in the three months to February from 1.4 percent in the preceding period.

The number of unemployed decreased by around 2,700 to 115,700. Data showed that total employment fell by around 12,000 to 3.66 million in the December to February period.

Considering major economic sectors, more distinct decreases were observed in the retail, transportation, and arts, entertainment, and recreation sectors.

"The labour market conditions should improve further in the near term alongside the continued return of economic activities to normalcy and the rebound in inbound tourism," the Secretary for Labor and Welfare Chris Sun said.