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Friday, Sep 24, 2021

HK jobless rate improves to 6.4pc

HK jobless rate improves to 6.4pc

Hong Kong’s seasonally adjusted unemployment slipped to 6.4 percent in the February-April period, the government said on Thursday, with the labor market improving as the coronavirus outbreak receded but still facing challenges from a slump in tourism.
The figure compared with 6.8 percent in the January-March quarter and 7.2 percent in the December-February period. The underemployment rate slid to 3.3 percent from 3.8 percent in the previous three months.

Meanwhile, total employment increased by around 7,900 from the January-March quarter to 3.62 million in the February-April period. Over the same period, the number of unemployed decreased by around 12,300 to 247,500.

“Considering that the business receipts of many labor-intensive sectors are still far below the pre-recession levels, the labor market will take time to attain a more visible recover,” Hong Kong’s labor chief Law Chi-kwong said in a statement.

“If the local epidemic remains well-contained, the pressure on the labor market will gradually ease in the period ahead. To create more favorable conditions for the revival of consumer-facing and tourism-related activities, it is essential for the community to work together to keep the epidemic under control and actively participate in the COVID-19 Vaccination Programme,” Law added.

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