Hong Kong’s seasonally adjusted unemployment rate in stood at 3.1% in the period from January – March 2023, down from 5.0% during the same period a year ago, according to the latest labour force statistics published by the Census and Statistics Department.

Compared to the previous three-month period, the seasonally adjusted unemployment rate decreased from 3.3% in the December 2022 to February 2023 period to 3.1% in January to March 2023.

Analysed by sector, the combined unemployment rate of the consumption- and tourism-related sectors (retail, accommodation and food services sectors) declined by 0.1% from the preceding three-month period to 4.2% in January - March 2023. Among these sectors, the unemployment rate of the retail sector and that of the accommodation services sector both declined by 0.1 percentage point to 3.8%, while that of the food and beverage service activities sector edged up by 0.1% to 4.9% after successive periods of decline over the past year or so. The unemployment rates of other sectors showed diverse movements. 

The number of unemployed persons (not seasonally adjusted) decreased by around 600 from 115,700 in December 2022 to February 2023 to 115,100 in January to March 2023. Over the same period, the number of underemployed persons also decreased by around 1,200 from 47,900 to 46,700.

Meanwhile, total employment increased by approximately 3,900 from 3.650 million in December 2022 to February 2023 to 3.654 in January - March 2023. Over the same period, the labour force also increased by around 3,200 from 3.766 to 3.769 million.

In January to March 2023, the Labour Department recorded a monthly average of 102,065 vacancies from the private sector, representing a year-on-year increase of 70.8% and an increase of 10.2% over the average figure in December 2022 - February 2023.

Secretary for Labour and Welfare, Mr Chris Sun, said, “The labour market continued to improve.” Looking ahead, Sun said, "The labour market should improve further alongside the continued revival of domestic economic activities and inbound tourism. The disbursement of the new batch of consumption vouchers beginning this month will also help."