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Financial News: Hong Kong Jobless Rate Rises In January

Hong Kong Jobless Rate Rises In January

02/18/2021 - 05:28:00 (RTTNews)

(RTTNews) - Hong Kong's unemployment rate rose in January, the labor force statistics from the Census and Statistics Department showed on Thursday.

The unemployment rate rose to a seasonally adjusted 7.0 percent in three months to January from 6.6 percent in three months to December.

The underemployment rate increased to 3.8 percent from 3.4 percent in the preceding period.

The number of unemployed persons increased by around 7,500 to 253,300 in November to January. Over the same period, the number of underemployed persons also increased by around 14,400 to 148,200.

Meanwhile, total employment decreased about 17,100 to 3.63 million in three months to January.

"Although the fourth wave of local epidemic has shown signs of easing lately, the labour market will remain under pressure in the near term as it will take time for economic activities to return to normal," Secretary for Labour and Welfare, Law Chi-kwong, said.

Keeping the epidemic under control the soonest possible with the concerted efforts of the whole community is of pivotal importance to economic recovery and improvement of the labour market, Law said.

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