Hong Kong's jobless rate rises to 3.9 percent in 3 months through January

Hong Kong’s jobless rate picked up to 3.9 percent in the three months through January, official data showed, as the government warned of continuous challenges in some sectors.

The seasonally adjusted unemployment rate went up by 0.1 percentage point over the preceding three-month period in November-January period, data from the Census and Statistics Department showed.

The underemployment rate, however, stayed unchanged at 1.7 percent in the period. 

movements in the unemployment rate and underemployment rate in different industry sectors varied, but the magnitudes were generally not large, the government said.

Increases in the jobless rate were mainly seen in the insurance sector, construction sector and financing sector while decreases were mainly seen in the transportation sector and cleaning and similar activities sector. it said. 

The number of unemployed persons remained unchanged at 138,200 in the three months ended January, but the total employment decreased by around 1,100 to 3.67 million. 

The city’s labor force declined slightly to 3.8 million.

The number of underemployed persons increased to 65,100.

The sustained growth momentum of the Hong Kong economy should help buttress the overall labour market, said Secretary for Labour and Welfare Chris Sun Yuk-han in a statement. 

“Nonetheless, the employment situations in some sectors may continue to be under pressure amid their challenging operating environments," he added.