Hong Kong’s unemployment rate remains unchanged at 3.5%
Authorities warn of ongoing uncertain external environment and worsening joblessness due to influx of fresh graduates
Hong Kong’s jobless rate remained at 3.5 per cent between April and June, with authorities warning of an ongoing uncertain external environment and worsening unemployment from more graduates entering the workforce.
The rate was unchanged from the level set during the previous three months, which marked a 30-month high.
Preliminary data from the Census and Statistics Department on Thursday showed that the number of unemployed people during the three months was 136,200, slightly higher than 135,800 in the previous three months.
The underemployment rate, meaning the amount of residents not working the hours they would like or in jobs that do not fully utilise their skills and education, was 1.4 per cent, also the same as the previous cycle.
“While the unemployment and underemployment rates … remained the same as those of the preceding three-month period, various industries in Hong Kong are undergoing transition, and their respective unemployment rates have different trends,” Secretary for Labour and Welfare Chris Sun Yuk-han said.
He added that future jobless rates would hinge on the overall economic performance of the city, and warned that an influx of fresh graduates would have an impact on the overall employment situation.