Financial News: Hong Kong Jobless Rate Rises In April

Hong Kong Jobless Rate Rises In April

05/19/2022 - 07:38:00 (RTTNews)

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

The unemployment rate rose to a seasonally adjusted 5.4 percent in the three months to April from 5.0 percent during the January-March period.

The underemployment rate increased to 3.8 percent in the three months ended in April from 3.1 percent in the preceding period.

The number of unemployed persons increased by around 17,600 to 206,100 in February-April. Over the same period, the number of underemployed persons also rose, by around 25,000 persons to 142,000.

Meanwhile, the total employment decreased by about 51,300 persons to 3.559 million in the three months to April.

"The labor market deteriorated further in February - April 2022, but the situation showed some stabilization in the latter part of the period in tandem with the receding local epidemic and revival of local economic activities," the Secretary for Labor and Welfare Law Chi-kwong said.

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