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Financial News: Hong Kong Jobless Rate Declines In June

Hong Kong Jobless Rate Declines In June

07/19/2022 - 06:10:00 (RTTNews)

(RTTNews) - Hong Kong's unemployment and underemployment declined in the April to June period, the labour force statistics from the Census and Statistics Department showed on Tuesday.

The unemployment rate fell to a seasonally adjusted 4.7 percent in April-June, down from 5.1 percent in March-May.

The underemployment rate also decreased to 3.0 percent in the three months ended June from 3.5 percent during the March-May period.

The number of unemployed people fell by 12,800 to 178,600 during the April-June period. Over the same period, the number of underemployed persons declined by 18,800 to 111,600.

At the same time, total employment increased by around 17,800 people to 3.572 million during the three months ended June.

"The labour market improved in April - June 2022 amid the moderating local epidemic situation in general and the gradual relaxation of social distancing measures," the Secretary for Labor and Welfare, Chris Sun, said.

"The Consumption Voucher Scheme and the 2022 Employment Support Scheme have also helped."

Looking ahead, the labour market will likely continue to improve in the near term, but its extent will depend on local epidemic conditions and global and local financial conditions, the secretary added.

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