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Hong Kong unemployment rate falls to 2.9% in June quarter as labour market improves alongside economy

18 July 2023

Hong Kong’s seasonally adjusted unemployment rate in stood at 2.9% in the period from April to June 2023, down from 4.7% 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, the seasonally adjusted unemployment rate fell by 0.1%.

The number of unemployed persons (not seasonally adjusted) in April to June 2023 was 113,600, about the same as that in March to May 2023 (113,100).

Comparing April - June 2023 with March - May 2023, movements in the unemployment rate (not seasonally adjusted) in different industry sectors varied, with relatively notable decreases observed in the retail sector and arts, entertainment and recreation sector.

The Department’s data also found that the number of underemployed persons decreased by around 2,900 from 44,400 in March - May 2023 to 41,500 in April - June 2023.

Meanwhile, total employment increased by around 15,000 from 3,673,800 in March - May 2023 to 3,688,800 in April - June 2023. Over the same period, the labour force also increased by around 15,400 from 3,787,000 to 3,802,400.

Acting Secretary for Labour and Welfare, Mr Ho Kai-ming, said, "The labour market continued to improve alongside the local economic recovery.”

Looking ahead, Kai-ming said, "The labour market should improve further in the coming months as the economic recovery gathers further strength."