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Hong Kong’s jobless rate rises to 3.1% in the December quarter

Hong Kong’s jobless rate rises to 3.1% in the December quarter

Danny Romero
| January 21, 2025

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Hong Kong’s seasonally adjusted unemployment rate rose to 3.1% in the period from October- to December 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 the same as that of the previous quarter. The underemployment rate also remained unchanged at 1.1% in the two periods.

Comparing October - December 2024 with September - November 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 6,100 from 119,700 in September to November 2024 to 113,600 from October to December 2024. Over the same period, the number of underemployed persons increased by around 1,800 from 41,700 to 43,500.

Meanwhile, total employment increased by around 7,100 from 3,711,800 in September to November 2024 to 3,718,900 from October to December 2024.

The labour force from October to December 2024 was 3,832,400, about the same as that in September – to November 2024 (3,831,500).

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