Unemployment falls to 2.8%

May 17, 2018

The seasonally adjusted unemployment rate dropped to 2.8% in the February-April quarter, down from 2.9% in the January-March period, the Census & Statistics Department said today.


The underemployment rate remained unchanged at 1%.


Total employment decreased by 5,800 to 3,866,600 while the labour force decreased by 4,900 to 3,979,500.


The number of unemployed people rose by 800 to 112,900 while the number of underemployed people rose by 2,200 to 41,100.


Secretary for Labour & Welfare Dr Law Chi-kwong said the labour market tightened further on the back of robust economic conditions.


The unemployment rate edged down by 0.1 percentage point, the lowest level in more than 20 years while total employment continued to record appreciable year-on-year growth.


Dr Law said the labour market will likely remain tight in the near term amid the prevailing positive economic environment, adding the Government will closely monitor developments.

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