Jobless rate remains steady, but F&B sector takes hit
Friday, October 18, 2019
Hong Kong's jobless rate continued to hold steady from July to September, but the unemployment rate of the food and beverage service activities sector rose sharply to a six-year high of 6 percent.
The Census and Statistics Department said today the seasonally adjusted unemployment rate stood at 2.9 percent, unchanged from June to August.
The underemployment rate also remained unchanged at 1 percent in the two periods.
Secretary for Labour and Welfare, Law Chi-kwong, noted that local consumption and plunging visitor arrivals caused by local social incidents continued to weigh on the labor market.
"The unemployment rate of the consumption- and tourism-related segment – retail, accommodation and food services sectors as a whole – increased further to 4.9 percent, the highest in more than two years," he said.
"Worsened economic conditions will put increasing pressure on the local labor market in the near term."