Hong Kong's seasonally adjusted unemployment rate improved to 2.9% in the period from October to December 2023, from 3.5% during the same period a year ago, according to the latest labour force statistics published by the Census and Statistics Department.

The seasonally adjusted unemployment rate was the same as that of the previous quarter.

Comparing October to December 2023 with September to November 2023, the unemployment rate (not seasonally adjusted) decreased slightly across most major economic sectors.

The number of unemployed persons (not seasonally adjusted) decreased by around 6,700 from 112,400 in September to November 2023 to 105,700 in October to December 2023. The number of underemployed persons in October - December 2023 was 37 000, about the same as that in September - November 2023 (36,600).

Total employment decreased by around 1,900 from 3,708,700 in September to November 2023 to 3,706,800 in October to December 2023. Over the same period, the labour force also decreased by around 8,600 from 3,821,100 to 3,812,500.

Secretary for Labour and Welfare Chris Sun, said, "The labour market should stay tight in the near term. Though the still unfavourable external environment may have some negative effects, the expected further recovery of inbound tourism and private consumption should continue to support labour demand."