Hong Kong’s seasonally adjusted unemployment rate rose to 3.1% in the period from September- November 2024, from 2.9% 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 unchanged from the previous three-month period ended October 2024.

When comparing September - November 2024 with August - October 2024, movements in the unemployment rate (not seasonally adjusted) and underemployment rate in different industry sectors varied, but the magnitudes were generally not large.

The number of unemployed persons (not seasonally adjusted) decreased by around 1,000 from 120,700 in August to October 2024 to 119,700 from September to November 2024. Over the same period, the number of underemployed persons also decreased by around 600 from 42,300 to 41,700.

Total employment increased by around 4,700 from 3,707,100 in August - October 2024 to 3,711,800 in September - November 2024. Over the same period, the labour force also increased by around 3,600 from 3,827,900 to 3,831,500.

Secretary for Labour and Welfare Chris Sun, said in a press release, “The labour market should remain largely stable in the near term, though the situation in some sectors might be more affected by increased uncertainties in the global economy and escalation in trade tension.”