Jobless ranks shrink to more than 20-year low

Local | 17 May 2018 4:49 pm

Unemployment in Hong Kong dropped by a percentage point to 2.8 percent from February to April, from 2.9 percent in January to March, provisional data show.

Total employment fell by about 5,800 from 3.872 million in January to March to 3.866 million in February to April, the Census and Statistics Department, reported.

The number of unemployed increased by about 800 from 112,100 in January to March to 112,900 in February to April. Over the same period, the number of underemployed persons also increased by about 2,200 from 38,900 to 41,100.

The labor force also decreased by about 4,900 from 3.984 million to 3.979 million.

In a statement, the Secretary for Labour and Welfare, Dr Law Chi-kwong, said: "The labor market tightened further in February to April on the back of robust economic conditions. The unemployment rate (seasonally adjusted) edged down by 0.1 percentage point to 2.8 percent, the lowest level in more than 20 years. The underemployment rate likewise stayed low at 1 percent. Total employment continued to record appreciable growth on a year-on-year basis."

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