The seasonally adjusted unemployment rate in Hong Kong stood at 2.9% in the period from December– February 2024, down from 3.3% during the same period a year ago, according to the latest labour force statistics published by the Census and Statistics Department.

The 2.9% rate was the same as that in November 2023 - January 2024.

Further data showed that the number of unemployed persons (not seasonally adjusted) in December 2023 to February 2024 was 102,300, about the same as that in November 2023 to January 2024 (102,600). Over the same period, the number of underemployed persons decreased by around 1,200 from 38,800 to 37,600.

Comparing December 2023 - February 2024 with November 2023 - January 2024, movements in the unemployment rate (not seasonally adjusted) and underemployment rate in different industry sectors varied, but the magnitudes were generally not large.

Total employment decreased by around 2,300 from 3,697,000 in November 2023 to January 2024 to 3,694,700 in December 2023 to February 2024. Over the same period, the labour force also decreased by around 2,700 from 3,799,700 to 3,797,000.

Secretary for Labour and Welfare, Chris Sun, said, “The unemployment rates of various sectors stayed low in December 2023 - February 2024, mostly showing only small changes compared with the preceding three-month period.

Looking ahead, Sun said, "The labour market is expected to stay tight in the near term along with continued growth of the local economy."