Unemployment Rate Drops to 3.8%: Statistics Department

Unemployment Rate Drops to 3.8% Between August and October

Hong Kong’s seasonally adjusted unemployment rate dropped to 3.8% for the period between August and October, down from 4.3% between May to July, a government news portal reported yesterday (Nov 17).

The department found that the total employment of Hong Kongers in the workforce increased by 19,700 to 3,648,600, while the labour force went up by 11,800 to 3,796,000.

About 147,400 unemployed people were recorded from August to October. The number of underemployed people went down by around 5,600 to 63,400.

The report added that most economic sectors saw decreases in unemployment and underemployment rates, as observed in the decoration, repair and maintenance for buildings sector, retail, and food and beverage sector.

“Although tightened financial conditions will constrain demand, economic activities should gradually return to normal as long as the COVID-19 epidemic remains under control and anti-epidemic measures are suitably relaxed, coupled with the help of the Consumption,” according to Secretary for Labour & Welfare Chris Sun the via the report.  

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