[Explanation] On August 19, the Census and Statistics Department of the Hong Kong Special Administrative Region Government released the latest labor force statistics (that is, provisional figures from May to July 2020). The seasonally adjusted unemployment rate was slightly lower from 6.2% in April to June. It fell to 6.1% from May to July, and the underemployment rate dropped from 3.7% to 3.5%.
[Explanation] The Secretary for Labour and Welfare of the Special Administrative Region Government, Luo Zhiguang, pointed out that the epidemic in Hong Kong was generally under control from May to June, and the government’s "Protecting Employment" program played a supporting role, so the overall unemployment rate dropped slightly. However, from May to July, the situation in the labor market remained severe. The total unemployment rate in consumer and tourism-related industries (ie, retail, accommodation and catering services) rose to 10.8%, the highest level since the SARS epidemic in 2003.
[Explanation] In April of this year, the SAR government launched the "Ensure Employment" plan under the second round of the Epidemic Prevention and Anti-epidemic Fund. By providing time-limited financial support to employers, they can help them pay employees' salaries to achieve the goal of reducing layoffs. The Chief Executive of the Hong Kong Special Administrative Region, Carrie Lam, met with the media on the 18th and pointed out that the first phase of the "Ensure Employment" program has been roughly processed. A total of approximately 148,000 employers have applied, and approximately 1.9 million employees have benefited. The total amount of wage subsidies involved is approximately HK$43.9 billion. . Among them, 97% of the aided companies are SMEs with less than 50 employees. It is reported that the second phase of the "Ensure Employment" program will begin accepting applications on the 31st of this month.
Reporter Li Waner from Hong Kong
Editor in charge: [Li Yuxin]