China News Service, Hong Kong, March 18 (Reporter Wei Huadu) The Census and Statistics Department of the Hong Kong SAR Government reported on the 18th that Hong Kong’s seasonally adjusted unemployment rate from December 2023 to February 2024 was 2.9%, which was the same as the previous period (2023 November 2020 to January 2024).
The underemployment rate remained unchanged at 1% during both periods.
Hong Kong's unemployment rate has remained unchanged for five consecutive periods.
From December 2023 to February 2024, the unemployment rate in various industries in Hong Kong remained at a low level, with mostly only slight changes.
Data show that from December 2023 to February 2024, the total number of employed people in Hong Kong decreased to 3.6947 million, a decrease of about 2,300 people; the total working population decreased to 3.797 million, a decrease of about 2,700 people; the number of unemployed people decreased to 102,300; employment The number of people in shortfall decreased to 37,600, a decrease of about 1,200 people.
Wen Jiawei, chief economist and strategist of Dah Sing Financial Group, said that Hong Kong's latest unemployment rate is in line with market expectations. The unemployment rate in major industries has generally not changed much. With the rebound of tourists visiting Hong Kong, consumption and tourism-related activities have remained stable, and the SAR government is committed to taking the lead. The preparation of large-scale events to boost the economy may increase manpower demand in the catering and retail industry in the short term. It is expected to remain at or below 3% in the first quarter of this year.
Sun Yuk-han, Secretary for Labor and Welfare of the SAR Government, said that as Hong Kong's economy continues to grow, the labor market is expected to remain tight in the short term.
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