Pedestrians cross a road in Hong Kong's Central area on Nov 13, 2021. (BERTHA WANG / AFP)
HONG KONG – The seasonally adjusted unemployment rate dropped by 0.2 percentage point to 4.1 percent for the period between September to November compared to the period from August to October, according to the Census and Statistics Department.
The city’s underemployment rate also dropped to 1.8 percent during the period, the department said on Thursday when it revealed the latest rolling three-month figures.
The unemployment rates of most economic sectors declined. In particular, the unemployment rate of the consumption- and tourism-related sectors combined fell by 0.6 percentage point to 6.3 percent
The unemployment rates of most economic sectors declined. In particular, the unemployment rate of the consumption- and tourism-related sectors combined fell by 0.6 percentage point to 6.3 percent.
"The labor market continued to improve amid the on-going economic recovery,” Secretary for Labor Law Chi-kwong said in a government statement.
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“Total employment increased by 6,800 to 3,673,300, and the number of unemployed persons fell by 13,800 to 158,000," he added.
During the period, the Consumption Voucher Scheme helped boost consumer sentiment and spending. The unemployment rates of accommodation services and food and beverage service activities fell notably by 1.0 and 0.8 percentage point respectively, to 4.8 percent and 6.9 percent.
Meanwhile, the unemployment rate of the construction sector also declined visibly by 0.8 percentage point to 5.6 percent.
"With the local epidemic situation remaining under control, the local economic and labor market conditions should continue to improve,” Law said.
“To strengthen the foundation for a broad-based economic recovery, it is essential for the community to strive towards more widespread vaccination and abide by the anti-epidemic measures. The government will continue to monitor the situation closely," he added.
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Law also noted that from September to November, the Labour Department recorded a monthly average of 105,902 vacancies from the private sector, representing an increase of 0.9 percent over the average figure in the period between August to October and a year-on-year increase of 43.8 percent.