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Financial News: Hong Kong Jobless Rate Rises In July

Hong Kong Jobless Rate Rises In July

08/19/2019 - 07:35:00 (RTTNews)

(RTTNews) - Hong Kong's jobless rate rose marginally during the May to July period, data from the Census and Statistics Department showed on Monday.

The unemployment rate rose to 2.9 percent during the May to July period from 2.8 percent in the April to June period.

The underemployed rate remained unchanged at 1.0 percent in the two periods.

On an unadjusted basis, the number of unemployed persons increased to 118,500 in the May to July period from 114,300 in April to June.

The total employed decreased by 3,300 to 38.67 billion in the May to July period.

"As the economy is expected to stay weak in the coming months, the local labor market will unavoidably be subject to greater pressure," the Secretary for Labor and Welfare, Dr Law Chi-kwong, said.

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