[Commentary] On June 16, the Census and Statistics Department of the Hong Kong Special Administrative Region released the latest labor demographic statistics (that is, temporary figures from March to May 2020). The seasonally adjusted unemployment rate was 5.2 from February to April 2020. % Rose to 5.9% from March to May 2020, surpassing the high of 5.5% after the outbreak of the global financial crisis in 2009, a 15-year high. The underemployment rate rose from 3.1% to 3.5%, which is close to the highest level in 17 years.

　　Statistics show that from March to May 2020, the unemployment rate (without seasonal adjustment) of most major economic sectors has increased, including unemployment in construction, retail, transportation, accommodation and food service industries The rate has risen relatively significantly; in terms of the underemployment rate, the increase is mainly seen in retail, transportation, and warehouse and transportation auxiliary activities.

　　Although the unemployment rate figures released this time hit a new high recently, the rate of increase fell slightly. The Chief Executive of the Hong Kong Special Administrative Region, Lin Zhengyue, said on the same day that the rate of receipt of Comprehensive Social Security Assistance (CSSA) cases from the Social Welfare Department has also slowed down.

　　[Same period] Chief Executive Lin Zheng Yue'e of the Hong Kong Special Administrative Region

　　Cases of receiving CSSA due to unemployment have risen sharply since the beginning of 2020. The increase in unemployment CSSA cases once reached 10.9% in March 2020; in April it was even more worrying, reaching 24%. In May, it was only 1.4% higher than in April. (CSSA) There are many cases, but the rate of increase has slowed.

　　【Explanation】Since the storm of law-making, Hong Kong's retail, catering and hotel industries have been hit hard. In addition to the impact of the epidemic, the unemployment rate in Hong Kong has continued to rise. The latest data shows that the number of unemployed (without seasonal adjustment) has reached 230,000. Lin Zhengyue pointed out that the "employment protection" plan involving more than HK$81 billion under the "Epidemic Prevention and Anti-epidemic Fund" of the SAR Government is underway, and it is hoped that the unemployment problem will not worsen.

　　Reporter Li Waner and Chen Haonan from Hong Kong

Editor in charge: [Wang Kai]