Unemployment falls in Hong Kong as economic recovery stays on track

閱讀中文版本

Hong Kong's unemployment rate has decreased from 5.5% in April - June 2021 to 5% in May - July 2021. The underemployment rate also decreased from 2.5% in April - June 2021 to 2.4% in May - July 2021.

According to the Census and Statistics Department most industries saw decreases in both the unemployment rate and underemployment rate. The construction, retail, accommodation and food services sector; and arts, entertainment and recreation sectors saw the most distinct drops in unemployment. While the transport industry saw the most noticeable decrease in the underemployment rate.

"The labour market improved further as the economy stayed on track for recovery,"  Secretary for Labour and Welfare, Dr Law Chi-kwong said in a press release. "The seasonally adjusted unemployment rate fell by 0.5 percentage point from April - June 2021 to 5.0% in May - July 2021. The underemployment rate also decreased slightly from 2.5% to 2.4%. Meanwhile, total employment continued to increase, by 9 900 to 3 650 000, and the number of unemployed persons went down further by 14 700 to 198 400."

Compared to the previous three months the unemployment rate of the consumption  and tourism-related sectors fell by 0.9 percentage point to 7.6%. Among these sectors, the unemployment rate of food and beverage service activities fell by 1.4 percentage points to 8.6%. Meanwhile, the unemployment rates of the construction sector, and the arts, entertainment and recreation sector also recorded visible declines. 
 
While the results were positive, Dr Law warned that  the labour market was still subject to uncertainty stemming from the Covid-19 pandemic

The labour department has also rolled out it's Youth Employment and Training Programme (YETP) to provide one-stop pre-employment and on-the-job training for young school leavers aged 15 to 24 with educational attainment at sub-degree level or below. 

The labour department has recorded a monthly average of 88 211 vacancies from the private sector, representing an increase of 7.1% over the average figure in April - June 2021 and a year-on-year increase of 39.3%.

Image / 123RF