Unemployment rate steady at 3%

August 16, 2024

The seasonally adjusted unemployment rate stood at 3% for the period between May and July, unchanged from the April-to-June figure, the Census & Statistics Department announced today.

 

The underemployment rate also remained unchanged, at 1.2%.

 

Total employment increased by around 5,300 to 3,708,600, while the labour force grew by around 8,400 to 3,826,400.

 

The number of unemployed people increased by around 3,100 to 117,800, while the number of underemployed people rose by around 3,000 to 47,500.

 

Secretary for Labour & Welfare Chris Sun said the employment situation in consumption-related sectors might be under some pressure due to the changing consumption patterns of residents and visitors. 

 

He added, however that the labour market should remain tight in the near term as the economy continues to grow.

Back to top