The seasonally adjusted unemployment rate in Hong Kong stood at 3.5% in the period from October - December 2022, down from 3.9% during the same period a year ago, according to the latest labour force statistics published by the Census and Statistics Department.

When compared to the previous three-month period ended November 2022, the unemployment rate decreased by 0.2% from 3.7%.

The underemployment rate also decreased from 1.6% in September to November 2022 to 1.5% in October to December 2022.

Comparing October to December 2022 with September to November 2022, the unemployment rate (not seasonally adjusted) decreased across almost all the major economic sectors, with more distinct decreases observed in the construction , retail, transportation and education sectors.

The number of unemployed persons (not seasonally adjusted) decreased by around 12,700 from 138,700 in September to November 2022 to 126,000 in October to December 2022. 

Meanwhile, total employment increased by around 8,300 from 3.65 million in September to November 2022 to 3.66 million in October to December 2022. Over the same period, the labour force decreased by around 4,400 from 3.79 million to 3.79 million.

Hong Kong’s Labour Department recorded a monthly average of 101,247 vacancies from the private sector, representing a year-on-year decrease of 5.7% and also a decrease of 5.7% over the average figure in September to November 2022.

Secretary for Labour and Welfare, Chris Sun said the labour market improved further during the period.

Looking ahead, Sun said, "The labour market should continue to improve in the near term. With most social distancing measures removed by the government and normal travel between Hong Kong and the Mainland (China) gradually resumed, domestic economic activities are likely to show a more visible revival, lending further support to the labour market. However, the tightened financial conditions may partly offset the positive effects."