The seasonally adjusted unemployment rate stood at 2.9% for the period between November 2023 and January 2024, unchanged from the October to December period last year, the Census & Statistics Department announced today.

The underemployment rate also remained unchanged at 1%.

Total employment decreased by around 9,800 to 3,706,800, while the labour force shrank by around 12,800 to 3,799,700.

The number of unemployed people decreased by around 3,100 to 102,600. The number of underemployed people increased by around 1,800 to 38,800.

Apart from pointing out that the unemployment rates of various sectors stayed low, Secretary for Labour & Welfare Chris Sun said with labour demand underpinned by continued economic growth, the labour market is expected to stay tight in the near term.